OctaFX | OctaFX Forex Broker
Open trading account

Sell the rallies in EUR/GBP – TDS

FXStreet (Edinburgh) - Against the backdrop of increasing GBP weakness, strategists at TD Securities have recommended selling the strength in the European cross.

Key Quotes

“This weaker tone points to some continuing near term vulnerability for sterling as EURGBP pushes up to a new high for this recovery”.

“We are watching the 0.7483 level as an area of potential resistance (7 May high), but we do not think we are likely to run into much of a slowdown in buying interest until we approach the 0.7550 region”.

“We will monitor how this cross trades if and when we get up there, but that may be where we start looking to fade this squeeze higher and start to look to re-build strategic shorts”.

GBP/USD: and the slide continues, flirts with 1.542 handle

The bears maintain their strong grip on the GBP/USD pair, pushing it to a low of 1.52 handle in the US session on the back of low UK inflation and dovish comments from BOE officials.
Read more Previous

AUD/USD: Rejected at 100-DMA drops below hourly 100-MA

The Aussie’s nine day winning streak seems over now, as the AUD/USD pair is trading below its hourly 100-MA at 0.7285 after having rejected earlier today at its 100-DMA at 0.7364.
Read more Next
Start livechat