- EURGBP: After falling aggressively last week, the market breached the support level at 0.78 but failed to close below it. Instead a doji / hammer like pattern was posted (see insert) and the follow through so far has indeed been positive. As the pair starts to creep up inside the channel again, the momentum indicator on the daily chart is also beginning to turn from stretched oversold levels.
- A close above Short Term resistance at 0.7876 would then suggest that the pair could stretch higher towards 0.7982 and possibly 0.8051.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
You must log in to post a comment.