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Thomson Reuters
Apr 03 - 12:12 PM
EUR/GBP - Base Building But Foundations Look Weak
First appeared on eFXplus on Apr 03 - 06:25 AM
  • A volatile market continues to cloud direction but possible base in place
  • Slide from Frid's 0.8647 high fails to match the Mar 27 0.8484 low
  • Hammer candle so far Wed hints at supply fade and potential base at 0.8503
  • Long at mkt (0.8535) with stop under 0.8484 might play out for high 0.86s
  • Weekly action still giving little away with a 0.8473 to 0.8722 range holding
  • However, we await stronger signals before looking to trade

EUR/GBP Trader:

EUR/USD Daily Candle Chart: Click here

Source:
Thomson Reuters IFR Markets

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