SPOT EURGBP - upside rejection key to investor sentiment
Yesterday's bullish forecast was confirmed as initial, strong, demand took EURGBP to all 3 of our upside objectives. But with the cross at 4 week highs, the top of the daily Keltner channel, and overbought extremes, demand stalled, and reversed. The change in investor sentiment was a powerful one with the market falling more than 120 pips back to the 13/100 day mvg avg area. Until that area is effectively breached, negative studies cannot be clear but, with caution, this morning’s call is a Sell but leaving room to Sell any Rally to .8944, yesterday's Marabuzo line. The risk is .8975, intraday Marabuzo line, with an immediate target of .8906, Oct 9th low. A move through that point then exposes sentiment to .8890 and .8872, Oct 5th bottom.
3cAnalysis – live analysis that improves trading performance. Our analysis is highly respected by major Institutions throughout the UK and Europe. We set the standards for high end, live, independent technical analysis research across 3 asset classes and 3 time frames and with exceptional directional success over more than 9 years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.