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May 15 - 02:55 AM

GBP/USD - Euro Racking Up Bearish Signals Versus Sterling

By Peter Stoneham  —  May 15 - 01:55 AM
  • Bearish signals at the start of the week and we take a short at market

  • A bearish cross over, 10DMA and 200DMA

  • Fourteen day momentum remains negative, adding to the downside risk

  • Long lower candle shadows Thurs-Frid but failure to break the 200DMA

  • The slow moving average is currently at 0.8740

  • We look for a return to levels below 0.8600 with a stop above a 50% Fibo

  • The Fibo at 0.8769 is taken off the 0.8875-0.8662 Apr. 25-May 11 drop

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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