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Aug 01 - 07:24 AM
EUR/GBP - Finds Its Feet After Much Needed Long Shake Out
First appeared on eFXplus on Aug 01 - 05:55 AM
  • A much needed clear out of longs Wed and our 0.9120 bid was filled
  • Mild rebound early Thurs but bid is holding and a gradual climb underway
  • No bearish divergence on daily RSI and 14-day momentum remains positive
  • Target Sept 2017 high at 0.9225: stop below last major high, 0.9051 Jul 17
  • Below 0.9051 and underlying bull trend called into doubt
  • Expect to see bulls re-group around the upper 30DMA Bolli at 0.9114 Thurs

EUR/GBP Trader:

EUR/GBP Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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