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Mar 16 - 08:36 AM

GBP/USD - Oversold And Hints That EUR Express Is Slowing

By Peter Stoneham  —  Mar 16 - 07:45 AM
  • Some signs EUR/GBP might be coming off the boil but too early to call a top

  • Potential for a fifth straight week of sharp gains: 10.25% rise from 0.8282

  • Last wk's breach of cloud and today's break above 30WMA Bolli significant

  • 14-week momentum confirming gains but RSI beginning to turn over

  • Note the 0.8885-0.8890 w/e April 10 cloud twist: could attract price

  • Daily action clear above the 30DMA Bolli, hints at overbought condition

  • Pullback risk but we await stronger signals that cross is turning









GBP/USD Trader:

EUR/GBP Weekly Chart: Click here

EUR/GBP Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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