Forex Market Commentary EUR & GBP – 17th July 2020
Hi traders, today we run over the EURUSD, EURJPY and GBPUSD daily charts. Will selling continue on the EUR to the USD and JPY after yesterday’s weakness? Both pairs are facing decent supply after this week’s rallies started to run out of momentum.
Has momentum turned for the GBPUSD and will sellers set up a new leg lower? Sellers have maintained plenty of supply over the last two sessions anytime buyers have tried to move above 1.2600. But below, buyers have defended 1.2550. We’re watching to see if this week’s lower high can set up a new leg lower but we want to see a break and close below 1.2550.
No high impact but we do have BOE Gov Bailey speaking at 20:00 AEST.
Today’s Market Analysis Video