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Apr 22 - 02:55 AM

GBP/USD - Euro Looking Stretched Above 0.8600 Versus Sterling

By Peter Stoneham  —  Apr 22 - 02:15 AM
  • EUR/GBP's dip below the 10-DMA ran into a wall of bids Friday

  • Ensuing rally breached the daily cloud top, 100-DMA and March 26 daily high

  • Our short's stop was hit at 0.8580

  • Speed and magnitude of the rally calls for corrective action

  • Daily RSI has turned over and daily cloud is thinning to a May 2 twist

  • Signals mixed but we have left an offer by 0.8525, ahead of a 61.8% Fibo

    For more click on FXNBUZ

Refinitiv IFR Research/Market Commentary


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