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Feb 07 - 06:12 AM

EUR/GBP - If In Doubt Bulls Should Look To The Weekly Chart

By Peter Stoneham  —  Feb 07 - 04:20 AM
  • Above its daily cloud but bulls struggle to maintain traction

  • Still a risk price pans out sideways along the thin and falling daily cloud

  • 14-day momentum remains negative RSI pointing down

  • Weeklies more convincing for bulls although long upper candle wick a worry

  • Bullish engulfing line this week: high 0.85s objective while abv 0.8390

  • Close above 10WMA, 0.8471, would also strengthen the bullish argument













EUR/GBP Trader:

EUR/GBP Daily Chart: Click here

EU%$R/GBP Weekly Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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