captain_smollett
Short

EURGBP. Entering strong reversal zone

FX:EURGBP   Euro / British Pound
EURGBP             pair is close to the absolute maximums reached by 2008. The magic of the Parity is strong again, specially, with the Cable dropping hard since recently.

But GBP is, at the same time, at the lowest levels since more than 30 years to the US Dollar             . Both currencies may start a bullish run but the Cable will have an advantage of a lower base. I believe EUR will reach a level of 0.91 and then start a healthy correction to 0.80.

On another side, if EUR achieves to close a month over 0.92, the next target is clearly a Parity with the GBP for the first time in history.

For now, my strategy is shorting EURGBP             from 0.91. Notice an eventual Cypher pattern , ending right at the top of the resistance zone .

SL: 0.93
TP1: 0.87
TP2: 0.80500
Comment: Sounds like wave 1 in A has been made and it is notw finishing Wave 2. Chart below
snapshot


And this looks like a road to the Parity between EUR and GBP, Parity and further
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snapshot


Looking for and end of Wave 2 to enter Wave 3
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