EUR & GBP – Overbought

And interesting, acute points for the Euro and British Pound, both trading strongly and making recent highs….

but now butting up against a downward trend line.
(see attached charts below)

At this juncture both currencies are overbought against the US Dollar and inversely, the USD is quite oversold.

I don’t expect them to and I’d be surprised if they trade notably above these trend lines, for the time being.

31 July 2020
by Rob Zdravevski
rob@karriasset.com.au

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