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Jun 11 - 03:55 AM

GBP/USD - Euro Breaks Its Consolidation Phase Versus Sterling

By Peter Stoneham  —  Jun 11 - 02:10 AM
  • EUR/GBP ended its recent consolidation phase

  • Cross fell to a 22-month low and also pierced the 200-month MA

  • Daily RSI is over sold but is confirming the new low

  • Monthly RSI is falling but is not yet over sold

  • Fourteen day momentum remains negative

  • An offer is placed at 0.8480, just ahead of Monday's high

  • Once short the target will sit below 0.8400

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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