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Jul 08 - 03:55 AM

EUR/GBP - Trend Break A Significant Development

By Peter Stoneham  —  Jul 08 - 02:40 AM
  • Trend is your friend until it breaks

  • EUR/GBP trend support from Apr 14 0.8250 low breached at 0.8578 Tues/Wed

  • Significant follow through to 0.8443 Friday low

  • Speed and magnitude of the drop argues for an adjustment

  • Could see a squeeze into the weekend

  • Key support at 0.8434 daily cloud base

  • Resistance at the weekly cloud top at 0.8614

  • We lean bearish but see correction risk: side lined for now

    For more click on [FXBUZ}
















Source:
Refinitiv IFR Research/Market Commentary

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