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Nov 11 - 07:55 AM

EUR/GBP - Caught In A Dollar Cross Fire And Struggling

By Peter Stoneham  —  Nov 11 - 06:00 AM
  • Big broader dollar rally leaves cross relatively stable but off its high

  • Momentum readings are with bulls and RSI reasdings are positive

  • Cross could be building for another test of the 200DMA, toady at 0.8582

  • False breaks of the average in Sept and early Nov noted

  • Today's action straddles a thin daily cloud, 0.8555-0.8565

  • Tues-Wed hammer candles bullish but other indicators are mixed

  • We will wait for stronger signals

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EUR/GBP Trader:

EUR/GBP daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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