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Jul 23 - 06:55 AM

GBP/USD - Euro Still In Trouble Despite Rebound Vs Sterling

By Peter Stoneham  —  Jul 23 - 05:21 AM
  • Speed and magnitude of Wed-Thurs fall argues for adjustment

  • The rebound from 0.8549 is holding but might prompt fresh selling

  • Above the 0.8590 50DMA and shorts likely to be trimmed

  • On balance bearish and a long upper weekly candle shadow is significant

  • Failure to hold gains to 0.8669 puts the bear trend back in play

  • This week's action capped by the 30WMA at 0.8672, this level now pivotal

    For more click on FXBUZ

EUR/GBP Trader:

EUR/GBP daily candle chart: Click here

Refinitiv IFR Research/Market Commentary


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