Fundamentals:
I've already noted this in my segment on the GBP currency value.The long-term fundamental value can be overridden by sentiment shifts or ultimately a political change. NOTHING is forever in this world except taxes.
The long-term fundamental value of EURGBP is about 0.7200, which can shift. Currently because of the GBP currency, this is about 14 percent overvaluation from the current exchange rate.
Two Things Sums It Up:
(1) Brexit
(2) Euro uncertainties
**Again: Brexit uncertainty overrides the long-term undervalued "frequency" in the exchange rate involving the GBP currency.
Technicals:
(1) Crown/Head and Shoulders Pattern setting up
(2) rejection candles on the monthly, weekly and now the daily.
Targets:
Targets are divided up into three segments
target#1: 0.8400
target#2: 0.8065
target#3: 0.7200
Comment:
Moved Stop to Break-even.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
