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May 03 - 04:55 AM

EUR/GBP - Bearish But Converging Support And Rising Cloud Noted

By Peter Stoneham  —  May 03 - 02:40 AM
  • Range trade risk as EUR/USD and cable track closely lower

  • A confluence of support points close to market key

  • 50% Fibo 0.8357, daily cloud top 0.8366 and 21-50DMAs 0.8353-0.8362

  • On balance a sell but a rising-thickening daily cloud might call the shots

  • Positive 14-day momentum holding but RSI now turning lower

  • We stand aside for now despite leaning bearish

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily Ichimoku chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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