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Jul 16 - 08:36 AM
EUR/GBP - Bulls Look To January High, Could Attract Profit Takers
First appeared on eFXplus on Jul 16 - 06:20 AM
  • Rounding top shot to pieces by a strong two-day rally to new trend highs
  • Clear beak of 0.9000 and focus returns to the early January high of 0.9102
  • Possibility longs are looking to levels ahead of the high to book profits
  • Our 0.8895 bid left behind: now looking for reversal signs as trend matures
  • Potential for cross to enter a new, higher range between 0.8830 and 0.9130
  • 21DMA, 0.89587, pivotal support defining underlying bull trend since May
  • The overall bias is up, below market bids redundant, worth waiting for a top

EUR/GBP Trader:

EUR/GBP Daily Candle Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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