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Dec 08 - 04:55 AM

EUR/GBP - Losing Upward Momentum After 100DMA Failure

By Peter Stoneham  —  Dec 08 - 02:50 AM
  • EUR/GBP rallied above the 100-DMA Wed but couldn't sustain upward momentum

  • The pullback from 0.8642 Wed high turned negative into the close

  • Tight early Thurs price clouding direction: daily momentum remains bearish

  • A monthly hammer candle (bullish) is in place for December

  • EUR/GBP trades above the rising 200-DMA, 0.8545

  • Signals are mixed so we will stand aside for now

    For more click on FXBUZ

















Source:
Refinitiv IFR Research/Market Commentary

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