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EURGBP retraces from 11-year high, crawls below 23.6% Fibonacci
EURGBP seems to be correcting from the 11-year high of 0.9498, after a phenomenal two-day aggressive rally sent the pair to historic highs not seen since 2009. The move down past the 0.9148 support is currently encountering some hindrance from the upward sloping red Tenkan-sen line slightly lower. The short-term oscillators reflect strengthening negative momentum for now. The MACD, in the positive region, although above its red trigger line, is weakening slightly, while the declining RSI has pushed out of the overbought territory. Furthermore, the falling stochastic lines have completed a bearish crossover, exiting ... (full story)