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Dec 07 - 03:55 AM

EUR/GBP - Gaining Traction But Nov. 28 High A Big Hurdle

By Peter Stoneham  —  Dec 07 - 02:30 AM
  • EUR/GBP rose above the 100-DMA Tues and closed tight on the 0.8628 average

  • A Wed close above the 10 and 100DMAs would negate the MA bear cross

  • Key resistance at 0.8675, the Nov. 28 high

  • Daily negative momentum readings are fading and RSI is flat lining

  • A rising 200DMA line defines the shallow bull bias

  • The average is at 0.8545 today and is the main downside trigger

  • On balance a bull market but tighter ranges will cloud direction

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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