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May 12 - 06:55 AM

EUR/GBP - Profit Taking Risk Ahead Of Cloud Base

By Peter Stoneham  —  May 12 - 04:46 AM
  • Bear side stalling a function of Monday's big drop and cloud base covering

  • Daily cloud base 0.8568 seen pivotal: cloud has contained price since Apr 21

  • Profit taking ahead of the base could sap bearish momentum

  • While a break could open up the 2021 0.8472 low

  • We have locked in small points on our 0.8645 short

  • 55DMA stands guard over the cross and could blunt corrective rebounds

  • 14-day negative momentum is increasing but RSI stalling

  • Short-side is vulnerable, May 31 0.8625-321 cloud twist cited

    For more click on FXBUZ

EUR/GBP Trader:

EUR/GBP daily Ichimoku chart: Click here

Refinitiv IFR Research/Market Commentary


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