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Refinitiv
Mar 21 - 05:55 AM

GBP/USD - Euro Struggling To Hold Cloud Breaks Versus Sterling

By Peter Stoneham  —  Mar 21 - 04:00 AM
  • EUR/GBP has struggled to maintain momentum above the daily cloud base

  • It also could not hold downward momentum on approaches to the 0.8500 area

  • We feel the pair is putting in a bottom and remain long for 0.8650

  • Long upper daily candle shadows a concern

  • Fourteen day momentum remains negative and RSI is flat and neutral

  • Close above 0.8547 cloud base would be encouraging for our long play

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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