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Aug 02 - 06:12 AM
EUR/GBP - Bulls Could Get Trampled By Their Own Profit Taking
First appeared on eFXplus on Aug 02 - 04:00 AM
  • Weekly topside breakout significant but longer-term chart looking stretched
  • One bear week in 13 and latest acceleration could warn of direction change
  • Wed's profit taking drop healthy but deeper and heavier squaring the risk
  • A messy daily bullish continuation pattern in play after Thurs bounce
  • July 31 pullback freed up room for further gains but Tues 0.9187 top now key
  • Our 0.9120 long on side and stop raised to 0.9080, below Wed's 0.9089 low

EUR/GBP Trader:

EUR/GBP Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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