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Oct 01 - 07:55 AM

EUR/GBP - Failed Break Proving Costly For Bulls

By Peter Stoneham  —  Oct 01 - 06:26 AM
  • Failure to hold a break of the 200DMA Tues proving costly for bulls

  • Back to back pullback sessions damage the underlying bull trend

  • We have a bid at 0.8575, just below market, for a trend resumption

  • Risk is now skewed to the downside, argues for a tight stop

  • Below 0.8554, 50% Fibo off 0.8450-0.8658, would be a concern

  • Thin daily cloud provides some support, 0.8560-0.8535

    For more click on FXBUZ
















EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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