Expecting weaker euro and possible stronger pound. Wedge could be broken up, but it seems unlikely because upcoming referendums later this year. Price could found support from lower trendline and at 0.8300 support level.
Hi again people,
This an updated analysis I did a month ago. You can check it out in the link here of related ideas.
I expected the market to do a move up to form -X-. Following Fibo rules I estimated the location of -X- following a downtrend line as a main guideline of the Daily corrective structure.
We are now looking for a brake down from -X- and then get in...
Our previous analysis on shorting EUR/GBP was correct.
Now, we need to pay attention to this support zone.
If the price manage to break the support zone with strong strength, wait for pullback and short for it :)
EURGBP Fundamental Outlook
EURGBP could be one currency to keep an eye next year. For all the speculation that Brexit will hurt the UK, speculators could be proven wrong big time. There are a lot of worries in the Eurozone, with French/German/Dutch elections. This could potentially hurt the euro, while the UK seems to have gotten an ally from Trump. From a...
