Sforex

EURGBP:market shifts sentiment toward EUR, SMA100 cut SMA200

FX:EURGBP   Euro / British Pound
79 0 0
With EURGBP             , I lean toward EUR than GBP.

SMA100 cut SMA200 for the fitst time since 2013 indicates potential trend change.

EURGBP             moved above SMA100 + SMA200 + SMA50 and prepare to escape Kumo cloud; I think this is a good chance to break Kumo cloud because EURGBP             could face a thick Kumo next trading days.

But I keep a cautious attitude of this pair. Market could choose Sterling instead of Euro             because when FED is over, they will come back BOE to pricing.

There is a Evening star pattern on the chart ( Blue circle) --> Likely a retracement.

In short, I will watch price action of EURGBP             carefully, if it hold above 0.7200 and SMA200+SMA100 +SMA50 also Kumo cloud. I will engage BUY.
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