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Oct 12 - 03:55 AM

EUR/GBP - New Recovery High But Move Lacks Momentum

By Peter Stoneham  —  Oct 12 - 02:20 AM
  • Late Tues rally canceled out a series of long upper candle shadows

  • New recovery high of 0.8865 early Wed, just shy of a 38.2% Fibo level

  • The Fibonacci retracement of 0.9260-0.8648 is at 0.8882

  • Daily momentum has picked up but failed to confirm the new high

  • Daily RSI also higher but flattening off: struggling to confirm gains

  • We lean bullish but while below 0.8882 pullback risk remains

    For more click on FXBUZ















Source:
Refinitiv IFR Research/Market Commentary

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