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Aug 12 - 06:55 AM

EUR/GBP - Holding Soft But Tight Ranges A Warning To Bears

By Peter Stoneham  —  Aug 12 - 04:42 AM
  • Although holding bearish, tight ranges hint at a direction change

  • We maintain a short from 0.8485 with a tight stop for 0.8350

  • Will monitor price dips with a view to maybe covering the short

  • 14-day negative momentum increasing but RSI now flat lining above o/b lvls

  • Key level topside, 0.8502, 10DMA and minimum correction off 0.8669-0.8450

  • Weeklies hinting at a possible hammer or at least a doji candle: bullish

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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