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Refinitiv
Nov 01 - 04:55 AM

EUR/GBP - Trying To Lift But Struggling To Make Headway

By Peter Stoneham  —  Nov 01 - 03:00 AM
  • Monday rebound just exceeded a minimum correction level

  • The 23.6% Fibo off the recent 0.870-0.8573 drop was at 0.8622

  • We took a long at 0.8585 looking for a larger adjustment higher

  • The next retrace level comes in at 0.8652

  • The 10 and 55-day moving averages just above at 0.8668 and 0.8677

  • Daily momentum readings are bearish but fading

  • Tough call but we will maintain a long for 0.8750

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Source:
Refinitiv IFR Research/Market Commentary

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