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Jan 22 - 02:55 AM

GBP/USD - Euro Showing Further Signs Of Weakness Versus Sterling

By Peter Stoneham  —  Jan 22 - 01:50 AM
  • A fourth consecutive bearish close on the weeklies

  • Within the developing trend but a key week also noted, adds to bearish risk

  • The 10-week MA has crossed below the 21 and 100-day lines, bearish signal

  • We are maintaining an 0.8615 short play for 0.8520 with a 0.85958 stop

  • Initial support at 0.8556, Jan. 18 and 2024 low

  • Potential squeeze point now at 0.8597, 10-Week moving average line

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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