Technical Analysis: Bias Bearish
- The pair remains capped below 200-DMA, recovery failed to break above
- Momentum indicators bearish
- RSI below 50 levels, biased lower
- MACD well below zero levels and -ve DMI dominance
Fundamental Factors:
Sterling stumbles on lower inflation. UK inflation came out at 2.4%, below 2.5% that had been expected.
GBP undermined by speculation about a tougher Brexit coming after Tuesday's outcome of the Commons' vote over the Brexit bill.
Support levels - 1.8883 (38.2% Fib), 1.8785 (Nov 9 low), 1.8615 (Jan 12 low)
Resistance levels - 1.90, 1.9043 (5-DMA), 1.9095 (200-DMA)
Good to go short around 1.8950/60, SL: 0.91, TP: 1.8885/ 1.8785/ 1.8615
- The pair remains capped below 200-DMA, recovery failed to break above
- Momentum indicators bearish
- RSI below 50 levels, biased lower
- MACD well below zero levels and -ve DMI dominance
Fundamental Factors:
Sterling stumbles on lower inflation. UK inflation came out at 2.4%, below 2.5% that had been expected.
GBP undermined by speculation about a tougher Brexit coming after Tuesday's outcome of the Commons' vote over the Brexit bill.
Support levels - 1.8883 (38.2% Fib), 1.8785 (Nov 9 low), 1.8615 (Jan 12 low)
Resistance levels - 1.90, 1.9043 (5-DMA), 1.9095 (200-DMA)
Good to go short around 1.8950/60, SL: 0.91, TP: 1.8885/ 1.8785/ 1.8615
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.