Week 1/31 - 2/5/16 EURGBP Outlook GBP Official Rate on 2/4
We have EURGBP losing upstream momentum on daily chart (red arrow).
Price failed to break above 0.7700 and currently retreated back down at the 0.7600 level while RSI and MACD both showing weakening.
Also price seems like on its wave C down to 0.7540
Price failed to break above 0.7700 and currently retreated back down at the 0.7600 level while RSI and MACD both showing weakening.
Also price seems like on its wave C down to 0.7540
Trade active:
Placed entry SHORT on 0.7577 as $EURGBP went under the 0.7600 level.
Trade closed manually:
Choppy price action heading into the London section. Position closed.