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Thomson Reuters
Aug 30 - 06:12 AM
EUR/GBP - 21-DMA Looks Key For The Many Likely Still Long
First appeared on eFXplus on Aug 30 - 04:00 AM
  • EUR/GBP down 0.9086-0.8983 yesterday after Barnier comments, 0.8973 today
  • News hit a GBP market pushing for breaks of major supports
  • Reverse in direction is yet to clear meaningful resistance for the pound
  • 21-DMA and a 61.8% retrace of the rally since Aug 13 are both 0.8973
  • Traders look badly positioned, break may see another swift drop
  • If current lows hold, the usual month-end buyer may well spark a rebound

EUR/GBP daily Click here

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