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Jul 31 - 07:24 AM
EUR/GBP - Needs A Pullback But Don't Expect A Deep Drop
First appeared on eFXplus on Jul 31 - 05:20 AM
  • Tentative pullback from Tues's significant 0.9187 high
  • Still has a 0.9200+ look about it and adjustments likely small and brief
  • We have a bid by 0.9120, just ahead of a 23.6% Fibo retrace level
  • The Fibo taken off the recent 0.8892-0.9187 climb at 0.9117
  • Speed and magnitude of the rally increases the correction risk
  • Worth noting o/b weeklies and a weekly cloud twist at 0.8816 value Aug 23

EUR/GBP Trader:

EUR/GBP Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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