workingtraders

$EURGBP looking for EUR weakness to return to market this week.

FX:EURGBP   Euro Fx/British Pound
theworkingtrader.com

Heavy Resistance between 7286 - .7301.

Nothing has changed in the eurozone. QE             will continue.

GBP sold off last week on comments from Governor Mark Carney - "Bank of England may raise rate rises later than expected".
Minus the comment from Carney we saw last week the trade deficit decreased to £8.4 billion.
With the spill over from Europe caused by QE             - we could start seeing an uptick in Business investment and product/services data.

Poor Earnings data added to the correction of this pair. I believe the earnings data should improve over the year.

A side note - We have elections in the UK putting a shadow on GBP - if the conservatives win there is a possibility of Great Britain leaving the European Union.
workingtraders
2 years ago
active in this trades filled 1 of 2 lots at 71600. Looking for 70600 for remaining lot.
+2 Reply
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