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Thomson Reuters
Jun 07 - 08:36 AM
EUR/GBP - Cloud Containment An Issue For Bulls
First appeared on eFXplus on Jun 07 - 05:35 AM
  • Maintaining a long play for 0.8860 but progress slowing again
  • Price containment by the daily cloud, 0.8746-0.8795, frustrating direction
  • Observed moving averages are flat lining and lose significance as a result
  • A cloud twist out to June 27 at 0.8756 adds to the sideways bias risk
  • Daily momentum positive but fading and stochs poised to cross bear side
  • Will hold long for now but may change parameters on further stalling

EUR/GBP Trader:

EUR/GBP Daily Chart: Click here

Source:
Thomson Reuters IFR Markets

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