The British pound showed psar signals of strength against the euro and the Swiss franc.
EUR/GBP stood at £0.8976, having traversed 1.2% high to low so far today. Next reversal point at £0.8750. The macd moved into bull mode. The adx showed a strong trend of 36, although it was lessening, suggesting that the number covered the uptrend that ended three days back.
GBP/CHF stood at S₣6.6156, traversing 1.1%. Next reversal point is at S₣1.6291. The macd was in bear mode but rapidly rising toward the zero line. The adx was 35, suggesting a strong trend, although it had turned sideways, suggesting it referred to the falling trend that ended on Tuesday.
This signal will be followed in the daily Watchlist, which is posted beginning around 2:45 p.m. Eastern. Look for it at www.timbovee.com.
Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic
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