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Dec 02 - 08:36 AM
EUR/GBP - Trying To Adjust But Quickly Losing Traction
First appeared on eFXplus on Dec 02 - 06:20 AM
  • Weekly bear flag break is holding but progress slowing

  • Daily action off the 0.8500 Nov 28 low and looking to the 10DMA at 0.8550

  • 14-day momentum remains negative but RSI is climbing

  • Oct-Nov bear trend intact: would take an 0.8600 break to worry bears

  • Would consider fading the 0.8600 level if the current adjustment extends

  • However, if correction fades a sub-0.8500 break opens up 2019 low at 0.8456













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Source:
Refinitiv IFR Research/Market Commentary

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