Long

Updated

EURGBP has just entered the weekly .5-.618 fibonacci zone. I think this week is going to start off with a lot of buying of selling of the GBP for profit takers that realized solid gains last week. This is either going to be a bounce off of this fib zone and higher, or it'll come back down and continue down.

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correction* - a lot of selling of the GBP

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looks like a break in the steep fall recently. I see a bounce or perhaps some consolidation around the trendline.

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Here is a better picture of the break

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still playing the waiting game. I expect upward movement this week.

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And upward movement we have!

Mustapha87

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