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TipTVFinance
Feb 16, 2017 2:23 PM

EUR/GBP – Selling to gather pace below 0.8450 

Euro Fx/British PoundFXCM

Description

The three day rise (including today) may be encouraging, however, the cross is yet to take out the descending trend line.

Failure to do so followed by a daily close below 0.8450 (Feb 14 low) would open the doors for a sell-off to a head and shoulder neckline support 0.8285 levels.

On the higher side, only a daily close above the descending trend line would signal a short-term trend reversal.
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