EURUSD has continued to push higher after confirming a Head and Shoulders bullish reversal chart formation, with prices now testing resistance at 1.3266, the 76.4% Fibonacci retracement of the 4/12-6/7 downswing as well as the upside target implied by measuring the distance between the head and neckline of the H&S formation. We maintain a broadly bearish bias and will look for confirmation on a break below the bottom of a rising channel established from late June (now at 1.3128) to position for a selling opportunity.
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