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Oct 22 - 05:55 AM

GBP/USD - Euro Clinging To A Recovery Versus Sterling

By Peter Stoneham  —  Oct 22 - 05:25 AM
  • EUR/GBP beginning to look constructive despite Monday's long upper shadow

  • Long upper and lower candle shadows hint at market indecision at the lows

  • Daily momentum readings are neutral and RSI is attempting to climb

  • With a low in place, 0.8296, there is scope for a long with a tight stop

  • Will stand aside for now but might view any small pullbacks as opportunities

  • The underlying bear bias, from the Oct. 3 0.8434 high is damaged but intact

  • A move above the 10DMA, 0.8348, needed to trigger more of a squeeze

  • EUR/GBP Trader TGM2343

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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