EURGBP Possible Trend Change

FX:EURGBP   Euro Fx/British Pound
The values given to short and for stop losses are only rough estimations. I'll be waiting for a reversal and a pullback to retest previous highs on a lower time frame for entry. Make sure you have a plan that works for you and that you stick with it before doing any trading.

The EURGBP             pair appears to be setting up for a trend reversal here. The Head & Shoulders pattern is a reversal pattern that occurs when the current trend is unable to continue any further.

With all the uncertainty around the European banking situation (both in Italy             and DB             ), Greece not meeting it's reform expectations, and all the other issues the EU faces, I'm expecting the Euro             to be weak for awhile still.

Bank Slump Triggers Worst Week in Three Months for Europe Stocks

French President Francois Hollande said: "Either we move in the direction of disintegration, of dilution, or we work together to inject new momentum , we relaunch the European project."

Jean Asselborn: Hungary “should be excluded temporarily or if need be forever from the EU”
Comment: Time to start looking for shorts
Comment: This idea is on hold for the moment while the Bank of England does everything in it's power to weaken the Sterling

Related Ideas

looks good
what is that indicator below you're using?
Haus_ dirv
Thanks, the top one is the Stochastics Momentum Index customized to show green or red when it's trending and the bottom one acts like a composite Stoch for other matching pairs.
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