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EUR/GBP – Evening star formation

FX:EURGBP   Euro / British Pound
We have more evidence for reversal in the EUR/GBP             pair. The action over the last three trading days has resulted in formation of Evening Star candle stick pattern, which is a reversal pattern.

This officially marks reversal of the rising trend from September 6 low of 0.8334 and adds credence to the exhaustion near confluence of key technical levels and bearish price RSI divergence + breach of rising trend line spotted by us yesterday

Watch Clive Lambert, Director at FuturesTechs detail the reversal in EUR/GBP             pair here - https://www.youtube.com/watch?v=JIscVXevYyw

Lambert says the reversal also suggests the GBP/USD             pair may have bottomed out. No wonder, Cable is trading above 1.30 and looking northwards.

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