EURGBP Midterm Trade Plan and the Levels
As described in the chart
Comment:
Our intraday short trade based on Harmonic Pattern is runnig as predicted.
Comment:
Fundamentally:
-Positive Brexit news
-Hawkish BOE and strong rate hike expectations on May.
-Dowish ECB
Those factors are putting EURGBP under a bearish pressure.
Critical 0.87200 support has been broken. Cup and Handle formation is almost completed.
We expect EURGBP to meet the following levels as long as it makes daily closings below 0.87400:
0.8697
0.8620
0.8490
0.8340
Today’s Key Levels are:
On the downside: 0.87120 0.86970 0.86820
On the upside: 0.87400 0.87580 0.87730
Any possible pullbacks can be used as selling opportunities.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
-Positive Brexit news
-Hawkish BOE and strong rate hike expectations on May.
-Dowish ECB
Those factors are putting EURGBP under a bearish pressure.
Critical 0.87200 support has been broken. Cup and Handle formation is almost completed.
We expect EURGBP to meet the following levels as long as it makes daily closings below 0.87400:
0.8697
0.8620
0.8490
0.8340
Today’s Key Levels are:
On the downside: 0.87120 0.86970 0.86820
On the upside: 0.87400 0.87580 0.87730
Any possible pullbacks can be used as selling opportunities.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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