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Apr 17 - 02:55 AM

GBP/USD - Euro Early Gains Fade; Eyes Monday's Low Versus Sterling

By Peter Stoneham  —  Apr 17 - 02:10 AM
  • Early Wed gains fade quickly: 50-day moving average, 0.8552, intact

  • Fourteen day momentum and RSI still reflecting price weakness

  • We remain short from 0.8568 for 0.8510 with a trailing stop at 0.8580

  • A drop under 0.8527, Apr. 15 low, needed to open up our target

  • Key resistance points at 50DMA and 100DMA, 0.8574 for the latter

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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