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Thomson Reuters
May 11 - 06:12 AM
EUR/GBP - Battles Cloud Top Resistance After Surge
First appeared on eFXplus on May 11 - 04:40 AM
  • Strong Thurs rally but price failed to close above the daily cloud
  • Slips back under the 100DMA early Friday having rallied 1.2% Thurs
  • 10-100DMAs are in play but are flat lining so lose some significance
  • It will take a drop back under the cloud to worry the bulls
  • On the wide recent extremes, 0.8728-0.8843 provide the clearer triggers
  • Await a stronger signal and more clarity on direction

EUR/GBP Trader:

EUR/GBP Daily Chart: Click here

Source:
Thomson Reuters IFR Markets

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