ridethepig | EURGBP Market Commentary 2020.08.03

FOREXCOM:EURGBP   Euro / British Pound
📌 Here we have a relatively straight forward move in play.

After EUR held the lows buyers can follow through; true, clearly sellers are not in control and failed to obtain the powerful ABC sequence main target. In other words... buyers are aggressive, GBP exposure would be better off elsewhere. The mobility of UK market access will contract (at least in the short-term) with NDB and it's an illusion to say otherwise.

EURGBP buyers can enter into play here and on the break attacking new highs at 0.925x as a quick flow target. Invalidation in the swing comes into play below 0.893x as at that moment it would be appropriate to bring things closer to home.

Thanks as usual for keeping the feedback coming 👍 or 👎
Trade active: ....and we are breaking out!