Forex Flash: EUR/GBP looks bearish ahead – Nomura
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - Nomura Strategist Saeed Amen has taken a look at EURGBP from a purely technical perspective.
Amen is bearish on the pair and notes that spot is slightly down on the week. Looking at his daily chart he notes that spot has broken down through the 55 SMA and RSI (14) has yet to turn, suggesting that it has not yet quite reached a low. He finishes by writing, "Also declining bandwidth is an indicator of further ranging. Our target is 0.8035 (200D SMA)."
Amen is bearish on the pair and notes that spot is slightly down on the week. Looking at his daily chart he notes that spot has broken down through the 55 SMA and RSI (14) has yet to turn, suggesting that it has not yet quite reached a low. He finishes by writing, "Also declining bandwidth is an indicator of further ranging. Our target is 0.8035 (200D SMA)."
Free Annual Reports
