EUR/GBP Technical Analysis: Euro Uptrend Holds Amid Turkey Woes
The Euro is attempting to revive its four-month uptrend against the British Pound but worries about spillover from the crisis in Turkey complicate positioning.
The Euro is attempting to revive its four-month uptrend against the British Pound but worries about spillover from the crisis in Turkey complicate positioning.
GBPUSD continues to trade near its 14-month low but the short-term outlook may be slightly more positive for Sterling bulls.
It’s been a strong rise for USD/CNH and precipitous fall for gold prices, but with sentiment at an extreme and price action cooperating reversals look set to gain momentum.
Recent changes in sentiment warn that the current Spot Gold price trend may soon reverse higher despite the fact traders remain net-long.
In the week ahead, the euro may try and continue retracing some of the recent breakdown below 11500, but the path of least resistance favors more selling to follow.
Recent changes in sentiment warn that the current Bitcoin price trend may soon reverse higher despite the fact traders remain net-long.
Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.