🇪🇺 EURGBP 🇬🇧 - Trend continuation after breaking 0.855
EURGBP may continue its fall as the market breaks support after a retest. A weak market on the euro side could give way further. For now, it is worth waiting for consolidation below 0.855 to continue the fall. Overall, the global trend is changing and this opens bearish perspectives.
Reasons for further declines:
1) The Euro is weakening to the point where it is weaker than the Pound Sterling on fundamental policy grounds
2) Support retest
3) False break of support fails. A retest of 0.855 is formed again.
4) Consolidation forms below 0.855 after the breakout - a good signal
Reasons for further declines:
1) The Euro is weakening to the point where it is weaker than the Pound Sterling on fundamental policy grounds
2) Support retest
3) False break of support fails. A retest of 0.855 is formed again.
4) Consolidation forms below 0.855 after the breakout - a good signal
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