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May 07 - 04:55 AM

EUR/GBP - Potential Bullish Continuation Pattern For EUR/GBP

By Peter Stoneham  —  May 07 - 03:05 AM
  • Bearish Monday close but also a long lower candle shadow

  • Mixed signals but within a potential bullish continuation pattern

  • Daily momentum just holding onto positive values and RSI is rising

  • Initial resistance at 0.8587, a 50% Fibo off 0.8643-0.8531

  • A close above this retracement level would strengthen the bullish argument

  • The 200-day moving average presents a bull target at 0.8607

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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