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Thomson Reuters
May 03 - 06:12 AM
EUR/GBP - Bears In Control While Bulls Are Under A Cloud
First appeared on eFXplus on May 03 - 04:30 AM
  • Mild bullish adjustment early Friday but the downside bias still alive
  • Negative daily momentum and a low RSI read confirm the short-term bear run
  • A falling and thickening daily cloud to limit upside potential
  • Fading adjustments to the cloud favoured with a tight stop inside
  • Weekly action still points to the 200WMA, 0.8435
  • A close on the week below the 10WMA, 0.8601, to strengthen the bear hold

EUR/GBP Trader:

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Source:
Thomson Reuters IFR Markets

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