Both the EURUSD and GBPUSD are lower on the day, but one is more bearish technically. Which one is it?
Both the EURUSD and GBPUSD moved lower today, but the selling was more pronounced in the GBPUSD. The pair is down 0.43%, compared with a decline of about 0.21% for the EURUSD. That relative weakness has also given the GBPUSD a more bearish technical tilt as the trading day winds down.
In the video above, I examine both major currency pairs and outline the technical bias for each, along with the key risk-defining levels and the targets traders should be watching as a new trading day begins.
Be aware. Be prepared.
This article was written by Greg Michalowski at investinglive.com.