However, we cannot afford to gauge this as trend reversal but a mere consolidation.
EOD technical charts that have shown continuous down-streak took a brief pause to get supported, as a result we are seeing slight recovery from 0.7010 to 0.7019 levels.
But there is no substantiation from other leading indicators except which has shown a slight buying pressures but not beyond 0.7075.
We predict intraday sentiments are only up to 0.7475.
One would certainly understand if weekly and monthly chartings are plotted as to how the technical indications moving in sync with price declines.
There exists a cleat convergence on is seen on daily, weekly and monthly charts with a supportive signal from curve as well, %D line crossover has been maintaining consistently except on which can be considered selling pressure is still intensified.
Trade Tips: The euro continues to flow its long lasting loses against sterling and GBP to hold sturdy as there nothing dramatic happening on weekly or monthly plotting.
So we believe, things seem like taking track onto its usual business on GBP side.
These signals can be attributed as positive movers for those who expect price slumps; however small bounces can used for fresh short build ups.
On a swing trading perspective, it is smart to sell on rallies, we advocate buying binary delta puts for targets of 20-25 pips.