Back to the Well on EUR/GBP (Last Time?)

EURGBP is ending the year at long term resistance. If the rate holds up through the end of the week (trading ends tomorrow), then the cross will have rallied for 6 straight weeks which is extremely rare. The implication near term is that the rate pulls back but we’ll be on the lookout for support given the inverse head and shoulders possibility (9+ months formation now).

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