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Feb 06 - 06:12 AM

EUR/GBP - Breakout Looming As Big Techs Converge

By Peter Stoneham  —  Feb 06 - 04:15 AM
  • EUR/GBP price chop pivoting a very thin daily cloud, 0.8477-0.8479

  • Major techs are converging towards the cloud: breakout risk increasing

  • Long legged hammer candle Wed hints at supply fade and end of bearish adj.

  • Shorter-term averages levelling off and thin cloud flat lining into Feb 14

  • Bulls watching potential wkly bull engulfing line and cls abv 10WMA, 0.8470

  • Direction clouded, we await stronger signals before entering a trade













EUR/GBP Trader:

EUR/GBP Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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