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May 12 - 05:55 AM

EUR/GBP - Respects 200DMA, Shorts Gain Upper Hand

By Justin Mcqueen  —  May 12 - 04:35 AM
  • EUR/GBP backing off 200DMA (0.8739) should encourage shorts

  • BoE opened the door to a June hike following growth, inflation upgrades

  • Data will decide June hike and GBP's fortune, focus on May 16 jobs report

  • U.S. debt limit jitters is a worry for EUR/GBP shorts, Biden meeting delayed

  • Close above 200DMA would likely negate downside risks in the cross

  • Near-term support: 0.8662 (Post-BoE low), 0.8600 (psychological)

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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