alexkyp

EURGBP potential SELL

Short
FX:EURUSD   Euro / U.S. Dollar
EURUSD is expected to extend its bearish trend and GBPUSD is currently trapped within the 1.2920-1.2960 (200 &800 EMA ) area with a lot of support around that are. The Cross-pair is currently consolidating around 0.8750 where there is significant support, if it breaks below the door could open for lower lows such as 0.8620.
Both the 200& 800 EMA support the direction of trading.
Also we can see i nice retracement of the bearish trend around the 0.382 fib level showing that the bulls have been exhausted.