EURGBP
The euro against the pound remained in an uptrend, supported by an ascending oblique and the SMMA 50. After breaking this oblique, an ascending flag has been forming for a few days but it too has been broken, a pullback is visible.
For me, the break of the SMMA 50 and the oblique support, invalidates the scenario of rise hoped by some and it clearly gives a bearish signal.
As the idea of a recession is becoming more and more present in Europe, the euro should continue to depreciate in the coming weeks to the benefit of the pound.
--Not a financial advice, just my opinion.--
The euro against the pound remained in an uptrend, supported by an ascending oblique and the SMMA 50. After breaking this oblique, an ascending flag has been forming for a few days but it too has been broken, a pullback is visible.
For me, the break of the SMMA 50 and the oblique support, invalidates the scenario of rise hoped by some and it clearly gives a bearish signal.
As the idea of a recession is becoming more and more present in Europe, the euro should continue to depreciate in the coming weeks to the benefit of the pound.
--Not a financial advice, just my opinion.--