Thursday, June 20, 2019
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Technical Analysis – EUR/GBP rally goes on

EUR/GBP rally goes on; focus on 0.8935 key resistance. EUR/GBP gained further positive traction this week, with the rally peaking at a fresh five-month high on Tuesday, marginally below the key resistance level of 0.8935. Technically the market could stretch the uptrend higher as long as the price keeps increasing its distance above its simple moving averages (SMA).

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Technical Analysis – EUR/GBP bulls look exhausted

EUR/GBP bulls look exhausted near 5-month highs. EUR/GBP stretched its four-week rally to an almost five-month high of 0.8900 on Tuesday before pulling slightly lower. The MACD seems to be losing momentum below its red signal line, the RSI is still hovering around its 70 overbought level and the red Tenkan-Sen is flattening well above the blue Kijun-Sen, all signaling

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