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Feb 26 - 03:55 AM

GBP/USD - Euro Struggling Versus Sterling Despite Monday Gain

By Peter Stoneham  —  Feb 26 - 02:50 AM
  • Weekly charts pointing to a lower EUR

  • W/e Feb. 16 hammer/harami signal (bullish) not confirmed

  • Last week's rally failed at the 10-week MA, currently 0.8570

  • Recent weekly high-lows provide supp/res at 0.8498-0.8578

  • Positive Monday start, feeding off Friday's long lower candle shadow

  • Fourteen day momentum just positive

  • Fading strength a strategy but we stand aside while signals conflict

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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