Technician

Watch This Level: #EURGBP Monthly | #Forex

FX:EURGBP   Euro / British Pound
868 7 20
I will start from the long term levels(monthly charts)..
Note that this is not intended to be a long or short , its just information that should help in trading...
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I am starting a new series of posts "Watch This Level" where i will be publishing the most important short,medium and long term support and resistance levels. Its not a forecast or a trade its just an attempt to provide and show levels that might be key on different time horizons, and could provide good trade opportunities..

If you like the idea, so i continue , please let me know by liking and commenting.. thank you..

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Technician

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A little fundamental overlook might help to solve the puzzle here. Comparing the danger of deflation in EU to inflation in UK, comparing the 2.6% GDP growth in UK to 0.8% GDP growth in EU, comparing the 11.5% unemployment in EU to 6% unemployment in UK equals 3:0 for UK. Still there is the "grexit" talk that doesn't really help EU and ECB struggle to fight upcoming deflation by planning to introduce QE, that won't really help much - it equals even worse for EU. I think that in the long term we will see this level broken. Even though we might see a 'little' correction up to 0.8 to gather more sellers and start the rally.
+2 Reply
Well stated mate, the fundamental facts are clearly in favor of further depreciation. But, markets always have their unexpected way of reacting to fundamentals, one opposite view might be that the euro economy has much LARGER room to improve then the British one, and since all the sentiment is negative towards the euro, some improvement and pickup in economic activity might result an a major trend shift. BTW, I don't adopt any of the opinions i just mentioned am just a technical trader.
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I Like! :D
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Suck it and see :)
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good idea
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Yeah, looks good
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Great! Good idea buddy.
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