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Aug 09 - 05:00 AM
EUR/GBP - Severely Overbought After Biggest One-Day Rise Since June 4
First appeared on eFXplus on Aug 09 - 03:30 AM
  • EUR/GBP bulls look set for an extended period of pain
  • Market overbought after Wed posted the biggest one-day rise since June 4
  • Cross has ventured well above the confines of the 30-day bollinger-bands
  • Wednesday's rise was backed up by a spike in TR Matching volume
  • But trading above the upper bollinger-band now at 0.8986 = overbought market
  • We have gone short at 0.9012 in anticipation of a relapse

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