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Jun 06 - 03:55 AM

GBP/USD - Euro Looking For A Breakout Versus Sterling

By Peter Stoneham  —  Jun 06 - 02:15 AM
  • EUR/GBP is holding near the middle of its recent 0.8484-0.8541 range

  • Early Thurs gains from 0.8499, matching the Wed low

  • Long upper and lower daily candle shadows clouding direction

  • Fourteen day momentum remains negative but RSI is rising

  • Sideways action since May 22 has stalled the bear trend

  • A more balanced market but with some downside risk

  • We will wait for fresh signals before taking on a trade

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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