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May 06 - 07:24 AM
EUR/GBP - Significant Rebound But Major Weight Overhead
First appeared on eFXplus on May 06 - 05:05 AM
  • New 2019 low at 0.8456 but supply fade triggers strong rebound
  • Potential Monday hammer candle (bullish) and s/t bear trend to reverse
  • Bulls need to negotiate major band of resistance between 0.8600 and 0.8621
  • Daily cloud base pivotal at 0.8600: cloud top 0.8667 potential game changer
  • Momentum negative but RSI reflecting price up-tick
  • Monday-Tuesday closes now key for near-term direction

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