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Aug 02 - 06:55 AM

EUR/GBP Chart Bearish, EUR/USD Vulnerable, GBP/USD Bull Grip

By Martin Miller  —  Aug 02 - 05:05 AM
  • EUR/GBP bears need a break under this week's 0.8346 low to make progress

  • That would unmask the 0.8326 Fibo, a 76.4% retrace of the 0.8204-0.8721 rise

  • Last week's rejection of the cloud, that spans 0.8501-90, also weighs

  • Recent failure above the 0.8699 Fibo continues to hurt the euro’s vs pound

  • 0.8699 Fibo is a 38.2% retrace of the 0.9500 to 0.8204 (2020-2022) drop

  • We are short at 0.8385 for losses to 0.8250. EUR/GBP Trading Page TGM2343

  • EUR/USD vulnerable nL1N2ZE0DL. GBP/USD bulls inhibited nL1N2ZE0FT

Source:
Refinitiv IFR Research/Market Commentary

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