EURGBP Lower
I like trying a EURGBP lower trade here.
Mostly technical as the setup looks really nice, EURGBP has failed at this level 3 times previously so there is strong resistance - the 200 MA weekly is also at this level as well. and we seem to be running out of steam for this move up around here.
Also tells us where we are wrong if we move much above this level.
Looking at EURGBP i think this move up is done now, rate differentials are suggesting lower, there's a little bit of risk on sentiment lately which also suggests lower and the story for the move up seems to be done now. EUR moved higher on a hawkish ECB which finished yesterday and was overall neutral i would say. GBP became weaker on fiscal worries about Lizz Truss which i think is also over now as people seem a little divided on what the outcome will be for the UK.
Not trading/investment advise, feedback welcome!
Mostly technical as the setup looks really nice, EURGBP has failed at this level 3 times previously so there is strong resistance - the 200 MA weekly is also at this level as well. and we seem to be running out of steam for this move up around here.
Also tells us where we are wrong if we move much above this level.
Looking at EURGBP i think this move up is done now, rate differentials are suggesting lower, there's a little bit of risk on sentiment lately which also suggests lower and the story for the move up seems to be done now. EUR moved higher on a hawkish ECB which finished yesterday and was overall neutral i would say. GBP became weaker on fiscal worries about Lizz Truss which i think is also over now as people seem a little divided on what the outcome will be for the UK.
Not trading/investment advise, feedback welcome!
Note
selling another at 0.86471 with stop at 0.87231Note
adding another at 0.87160 with 77 pip stop lossNote
taking all out for -1.4%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.