By Peter Stoneham — Jan 20 - 02:28 AM
• EUR/GBP bulls still in control as the cross consolidates above the 200DMA
• Potential for a bullish continuation pattern to play out this week
• Upside breakout point at 0.8447 today
• Recent daily tops at 0.8453 and 0.8465 also providing resistance
• Fourteen day momentum confirming Friday's rally but RSI is stretched
• A Feb. 17 0.8334-35 cloud twist fighting the GBP's corner
• Buy on dips strategy favoured for nowEUR/GBP Trader: [page:2343]
EUR/GBP daily candle chart:
(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)
Source:
London Stock Exchange Group | Thomson Reuters