FX:EURGBP   Euro Fx/British Pound
174 1 11
- Ichimoku setup is bullish , will be bullish until price stays above Kijun and Senkou B. However price got too far above Kijun Sen.
- Heikin-Ashi last week already signalled loss of momentum . This week we had a massive follow through. Price dips below Tenkan, which has not happened so far in 2016! This is a big difference compared to first week of March. Price also hits SAR             .

- Ichimoku setup changed to neutral: Kumo shades price, weak bearish Tenkan/Kijun cross and price is below Kijun.
- Price reached second support at spot Kumo and 100WMA. Kumo is thick below, and should it be penetrated next week, I doubt price will drop through immediately.
- Heikin-Ashi is firm bearish , with haDelta below zero line.
- EWO is just turning bearish .

I think any spike to Tenkan and Kijun ard 0,7900 is a zone where we have to look for high probability sell setups!
In case it collapses down to 0,77 or below, then we'll have to wait for a spike to 0,78+ to sell. Anyhow, it is important to sell spikes, as the downside given by weekly chart can be limited ard 0,75+, especially as Brexit vote date is getting closer.

Honestly I was so much focused on GBPUSD             (which is also improving bullish ) that I completely forgot to check EURGBP             .
I hope market gives a chance for an entry next week.
IvanLabrie PRO
10 months ago
I favored gbpchf long over eurgbp short since eurchf is in an uptrend. (went long 3 days ago)

That being said, I'm tempted to short this one too, waiting to get in.
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