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May 22 - 06:12 AM

EUR/GBP - Overbought: Euro Could Drop Faster Than The Pound

By Martin Miller  —  May 21 - 06:05 AM
  • EUR/GBP is overbought, trading above the 30-day upper bollinger-band

  • Risk grows for a drop much towards the rising 10-DMA, now at 0.8878

  • A break and daily close below the 10-DMA will weaken the outlook further

  • Fourteen-day momentum remains positive, so the underlying outlook is mixed

  • We are long at 0.8905, our stop has been raised to cost TGM2343

  • EUR/USD went up, it must now come down: overbought nL1N2D308J

  • GBP/USD chart bearish, momentum negative, Fibo below exposed nL1N2D30C2

Daily Bollinger Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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