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Momentum Studies Remain Bearish


Intraday trend conditions in EURGBP, while choppy remain bearish.

  • Momentum studies on the 60-min frequency shifted to a confirmed bear mode on Sep 16 and are unchanged.
  • Last week's failure to hold above trendline resistance drawn off the Aep 11 high also highlights a bearish risk.
  • Support to watch lies at 0.9044, Oct 2 low and 0.9025, Sep 28 low.
  • A breach of 0.9025 would confirm a resumption of bearish activity and open 0.8967, 76.4% of the Sep 3 - Sep 11 rally.
  • Resistance is at 0.9132, Friday's high.