EURGBP - Dark Cloud at 7 month high signals profit taking pullback
​Although the most positive levels traded for 7 months were posted in EURGBP, signals for sentiment are not clear. Those highs were firmly rejected - forming a Bearish Dark Cloud cover day - but the resulting decline stalled at a daily Marabuzo line and the 13 day mvg avg. The net result, for a 5th consecutive week, was limited net movement and this makes assessment of immediate signals for sentiment difficult to determine. But it is the upside rejection that we look to to deepen and so our call for this week is a Sell but leaving room to Sell any Rally to .8848, Wednesday's open. The risk is .8904 with an immediate target of .8719, the 3 week low. A move through that point then exposes sentiment to projected points of .8691 and .8633
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