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Feb 27 - 08:36 AM

GBP/USD - Eyes 2020 Lows Vs EUR And Cloud Pressured

By Peter Stoneham  —  Feb 27 - 06:50 AM
  • Cruel market as our 0.8345 long stop was just 7-pips above Wed low

  • EUR/GBP subsequently rebounds strongly and levels above 0.8500 seen

  • Cross now spans daily cloud, 0.8441-0.8506

  • Cloud top offering up resistance but bid is holding

  • 14-day momentum likely to turn positive before week is out

  • Bull targets are 0.8535 and 0.8595, Feb 4 and Jan 14 highs











EUR/GBP Trader:

EUR/GBP Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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