By Justin McQueen — May 30 - 05:04 AM
• EUR/GBP forms key day reversal, opens door to larger rebound
• Key day reversal = Higher high, lower low, close above prior day high
• False break of 200DMA (0.8380) also adds to technical bull bias
• Yday's rise marks largest since Apr 16 - potentially month-end related
• Cross has been largely a range trade. Parameters = 0.8350-0.8450/60
• Thus a break of range top will be key. Would set focus on 0.8500 test
EURGBP daily chart
(Justin McQueen is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters
