EURGBP – Choppy Inside the Cloud

by Admin

EURGBP – Mildly Bearish Bias – Looking to Sell a break of .8505 (25 pip stop)

EURGBP- The morning gains were strongly reversed yesterday resulting in EURGBP posting the 2nd negative daily performance in succession. In previous reports we have noted that the cross needs to break .8507 to continue the move to the downside (in a larger corrective sequence). Buyers emerged just above this level yesterday in late trade. The intraday outlook is mixed as we continued to trade within the daily (Ichimoku) cloud cover. The profit targets will be: .8475, .8460 and .8410

Resistance levels are: .8539, .8547 and .8569