Technical Analysis – EURGBP moves back into cloud; reverts to neutral mode
Posted on September 26, 2018 at 1:57 pm GMTEURGBP has retreated significantly from the more than one-year high of 0.9098 touched at the end of August and appears once again to be struggling for direction. Prices have been drifting inside the Ichimoku cloud during the past couple of weeks and a brief overshoot following the rebound on the 50% Fibonacci retracement of the upleg from 0.8620 to 0.9098 proved unsustainable. A continuation of the sideways movement risks eroding the bullish medium-term structure and restoring the neutral outlook that [..]