Pound Finds Support on Strong Fundamentals
The EUR/GBP finds itself in a short-term descending channel but has seen the 20-Day SMA at 0.8363 serve as a support level. A clear break below may lead me into a short position but I will most likely wait for a move below 0.8300 which the pair has traded above for the majority of the month. The Euro relief rally is showing signs of slowing with sterling, momentum gathering strength as U.K. fundamentals continue to surprise to the positive side.
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