RmRusignuolo
Short

EURGBP daily chart. Huge head and shoulder pattern.

FX:EURGBP   Euro Fx/British Pound
61 1 0
TECHNICAL
Price action from May formed a head and shoulder pattern.
Fibo retracement is draw from 0.775 (important multy-years level) to 0.705-0.70 zone (yearly low)
-Shoulders kissed 0.5 of Fibo level
-Head 0.618 Fibo level

FOUNDAMENTAL
Greek catalyst event (if happens) will be decisive in breaking this level to downside and generate follow- through

TRADING OPERATIVITY
It is not good time to stay positioned in EUR, because volatility and unpredictable events.
Short positions in EURGBP             will be very profitable, if 0.7 resistence falls, couse bad news from Greece.
It will generate new yearly low.
RmRusignuolo
a year ago
Price gapped exacly on support on this opening week.
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