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FxWirePro: EUR/GBP Trade Idea

EUR/GBP chart on Trading View used for analysis

EUR/GBP Technical Analysis: Bias Bearish
- Bearish 5-DMA crossover on 20-DMA, 5-DMA is sharply lower
- Price action below cloud and major moving averages
- Stochs and RSI show momentum is bearish
- MACD is on verge of bearish crossover on signal line
- Price has dipped below 110-W EMA

Fundamental Factors:
- Sterling to remain strong on renewed hopes the UK will avoid a no-deal Brexit. 

Support levels - 0.8655 (Nov 13 low), 0.8620 (trendline)
Resistance levels - 0.8715 (5-DMA), 0.8744 (20-DMA)

Recommendation: Good to stay short on upticks  around 0.87/0.8710, SL: 0.8745, TP: 0.8655/ 0.8620

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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-1541 %

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2016 bln ARS

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