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Jul 15 - 11:55 AM

EUR/GBP - Reversal Gaining Traction And Eyes A 50% Fibo

By Peter Stoneham  —  Jul 15 - 09:35 AM
  • Promising developments for our long play, taken early in the session

  • Price climbs above the 10DMA, 0.8495, and posts a high at 0.8513

  • We have raised our stop to entry, 0.8470, but still target 0.8560

  • A 50% Fibo, from 0.8678-0.8403 drop comes at 0.8541 could slow the rise

  • Daily RSI rising and 14-day negative momentum beginning to confirm gains

  • To the downside, daily cloud base at 0.8434 and 200DMA just ahead at 0.8443

    For more click on FXBUZ
















Source:
Refinitiv IFR Research/Market Commentary

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