EURGBP Sees a correction move after an extreme move to the downside breaking the 0.84 handle.
From a psychological standpoint sterling has been gathering momentum after much awaited brexit gains.
A potential upside move awaits EURGBP as a correction should be due for momentary bullish momentum .
Institutional sellers aim to find a better price in joining the overall downside momentum along with an all too perfect upside move on Sterling ( GBPUSD )
Certain scenarios pose a risk of whipsaws from selling pressure as shown by the arrow, a proposable question is how many sellers do we really have left ?
From a psychological standpoint sterling has been gathering momentum after much awaited brexit gains.
A potential upside move awaits EURGBP as a correction should be due for momentary bullish momentum .
Institutional sellers aim to find a better price in joining the overall downside momentum along with an all too perfect upside move on Sterling ( GBPUSD )
Certain scenarios pose a risk of whipsaws from selling pressure as shown by the arrow, a proposable question is how many sellers do we really have left ?
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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.