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Ride the GBP Britain has been doing terrible since it's issued article 50 of the Lisbon Treaty for it to leave the European Union, from there the country has been unstable economically, but the banks were preserved with this information and that caused the GBP to recover for a bit, on Thursday we've had fundamentals released by the bank of England which confirmed Britain has lost investments and not only that, but people are very wary of investing in the UK. Since investments and interests rates are the backbones of the Forex market, and news being negative and a heavy drop on the GBP we can determine from this that the GBP is looking to drop back to the Brexit levels, but as we know the market always trends in swings forming those LL's and LH's in a downtrend, the market has formed the first leg of LL, next up it's forming that LH at the 50% Fibbo retracement as we can determine from previous price levels on GBP/USD.
Short
by Abdul_Light
EURUSD BIG SHORTFollowing my previous post, EURUSD using the news as momentum, chose to break through the daily trendline, hold and then continue on with it's bearish movement. As I suggested in my previous post if this was to happen we could look for the EURUSD to continue short all the to the weekly trend support line. Currently the pair is pulling back in preparation for its upcoming short impulse. TARGETS SET AT 1.5000 A break of the current pullback should leave options for a second entry or a first if you havent already got a position.
Short
by NathanSaunders