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Aug 01 - 04:55 AM

GBP/USD - Euro Closes Below Long-Term Support Versus Sterling

By Peter Stoneham  —  Aug 01 - 02:35 AM
  • Mixed signals on the daily chart within a shallow bull run

  • Inverted hammer candle Wed a concern for our long play

  • Daily momentum, RSI and slow stochastic readings are positive

  • A fifth consecutive bearish month and July closed below the 200MMA

  • It was 2015 the last time the EUR closed below the 200MMA

  • The average currently at 0.8456 and we might square on failure here

  • We are long from 0.8420 for 0.8505 with a stop at 0.8380

  • EUR/GBP Trader TGM2343

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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