ForexYell

EURGBP Eyes Bull Flag Breakout Toward 0.75/7650

FX:EURGBP   Euro Fx/British Pound
15 0 2
EURGBP             has come into short-term resistance along a top of a bull-flag. Answering the question, ‘what is the market not doing’ shows that we’re not seeing an aggressive bid in cable or a willingness to aggressively sell the EUR vs. anything other than the USD. Additionally, the recent sideway move seems to favor a resumption of the two recent aggressive pushes higher with very weak counter-trend moves. This week counter-trend pushes turns our attention to RSI (5) on the 4h where a breakout would likely align with an aggressive move higher.
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