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May 09 - 11:55 AM

GBP/USD - Euro Loses Support As Sterling Maintains Its Advantage

By Peter Stoneham  —  May 09 - 09:35 AM
  • Cross finally dips below 0.8700, clearing recent lows and Fibo level

  • We are short from 0.8765, stop at entry and a revised target of 0.8565

  • December 19 2022 0.8692 low now calling

  • A 76.4% Fibo off the 0.8548-0.8978 climb is at 0.8649

  • Weekly charts the most damning for the EUR

  • Cloud and 200WMA breached and a marked pick up in bearish momentum

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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