Good morning from Euro Fx
EUR/GBP Technical Analysis: Strong bear breakout exceeds the average daily range
The bulls failed to break the 0.8800 handle and the bears brought the EUR/GBP currency cross down almost 70 pips. The average daily range on 14 days is 48 pips.
The main trend is neutral and the risk is slightly tilted to the downside as the bear broke below 0.8738 swing low (May 24) with a strong impulsive move.
However, overnight the market might retrace towards the 0.8750 psychological level as some bears take profits in Asia.
Todays rates at Euro Fx
Euro = 0.8575
Gbp = 1.1225
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