Nicemate
Short

EURGBP Monthly Analysis

FX_IDC:EURGBP   Euro / British Pound
28 0 4
The interesting thing of the relationship between the european currency and the British Pound, is that while it took five years to go from the 0.90 area to the 0.70 area, it only took one year to climb back up from the 0.70 area to the 0.90 area. The monthly trend has been massively upwards, in fact, for the FX_IDC:EURGBP             pair. Now that we have reached the third Yearly resistance and we expect a rebound, we will be looking into lower timeframes for a reversal pattern, in order to open a profitable short position. Updates will follow. Please like, or follow, if you think our analysis can be useful to your trading knowledge.
Comment: The weekly analysis doesn't tell us much, other than our 5th wave could be long until above yearly resistance 3, or could have stopped in the 0.86 area, followed by an extension structure (ABC extension)...
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