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Mar 07 - 04:55 AM

GBP/USD - Euro's Potential Trend Failure Sets Up A Sterling Recovery

By Peter Stoneham  —  Mar 07 - 03:05 AM
  • Early Tues failure above trend resistance bodes well for bears

  • The line comes in today at 0.8870, taken off the 0.8978 Feb. 3 high

  • Risk the market is just working off the excesses of the Monday rally

  • However, a close below the trend line could trigger a deeper pullback

  • Mar. 6 0.8825 low initial support then the cloud top at 0.8798

  • We lean bearish and will consider a short on a weak close

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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