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Feb 26 - 03:55 AM

EUR/GBP - Reversal Kicks In With A Bang; Timely Signal

By Peter Stoneham  —  Feb 26 - 02:11 AM
  • Wed's hammer candle warning to bears proved very timely and significant

  • The reversal higher kicked in with a bang Thurs and accelerated into Frid

  • Our 0.8601 long play heavily in the money and stop raised to 0.8620

  • Will raise the stop again on a close above 0.8700

  • A minimum correction of the 0.8229-0.8540 drop met at 0.8703

  • Next Fibonacci, 38.2%, is at 0.8803: 21DMA initial res. at 0.8732

  • Potential weekly hammer candle also a strong reversal signal
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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