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August 13, 2012

EUR/GBP Reclaims Bearish Momentum with Break Under Trendline

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The EUR/GBP topped off last Monday (8/6) at 0.7962 and has slid to about 0.7830 by Friday (8/10). A few observations can be made in the 4H chart. 1) Price action has retraced 61.8% of the 0.7756 to 0.7962 rally from 7/23 to 8/6. 2) Price action has fallen below the rising trendline holding this... FF News: Technical

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