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May 22 - 02:55 AM

GBP/USD - Euro's Series Of Daily Lows Supporting Versus Sterling

By Peter Stoneham  —  May 22 - 01:35 AM
  • Sideways price action frustrating our 0.8717 short play

  • Target 0.8565 with a 0.8735 stop: parameters revised on a 0.8700+ close

  • Bear move just contained by the 10DMA, 0.8693

  • Series of daily lows in the 0.8660-70 area the initial support

  • Break below 0.8662, May 11 and 2023 low sees stop lowered to entry

  • Note, 21DMA poised to cross below 200DMA, bearish signal

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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