Euro Loses 1.2900 Handle, GBP Price Action Heavily Bearish | Sep 8


EURUSD – Loses 1.2900 Handle
As we talked about in our weekly market commentary, the price action structure and corrective consolidation suggested the Euro would likely break lower and remain under pressure. That is exactly what happened as you can see from the 1hr chart below, losing the 1.29 handle for the first time in a year.

For now, remain bearish and look to sell on pullbacks into resistance. First level of resistance is at the consolidation base ~1.2923. The top of that base would be another option, while a much stronger pullback towards 1.3100 would be the next level.

GBPUSD – Scottish Vote Weighing Heavily on The GBP
As we discussed in our market commentary this week, the potential …

... Keep reading