Kumowizard

Is GBP so much better than EUR?

FX:EURGBP   Euro / British Pound
233 3 8
Technically it looks better. But hey, both Central Banks are printing, and I doubt BoE will hike... so maybe GBP is not a lot better. Let's check techs again:

Weekly:
- Ichimoku setup is bearish , but for continuation Price should break and close below 0,6950. If it cant make a lower low in coming weeks, then Tenkan won't be able to cross below Kijun!
- Heikin Ashi is bearish , but haDelta already shows there is some drop in momentum.
- EWO             also has some positive divergence

Maybe it double bottoms ard             0,7000?

Daily:
- Bearish Ichimoku , and a steep bearish trendline . This is first support at 0,7025. Next one is Tenkan at 0,7050. Above that a correction could extend to 0,7150-0,7200.
- Heikin Ashi shows third day of consolidation: small, doji-like candles follow each other without a lower low. haDelta is still below zero line.

Honestly, I don't know fundamentally which ccy worth more or less than the other, but technically bearish momentum is dropping and there is some chance for a pull back to 0,7200.

p.s.: maybe time to sell GBPNOK? Pls             check other link below on EURNOK             .
How do you normally enter trades using Heiken Ashi? I love the chart type itself but picking precise entries I never really understood.
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I think to sell GBPNOK now is like 2 day too late.

Tom
+1 Reply
Kumowizard PRO TomProTrader
there is no such thing too late :-) It is never too late. I just checked that chart. Yes, in terms of Heikin Ashi, we had the signal 2-3 days ago... same as on EURGBP and EURNOK on legs. Anyway, I do not trade ccys on such illiquid pairs. I stick to EUR and USD crosses. But synthetically I sit in a small GBPNOK short.
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