Talk of Brexit and the GBPUSD near uncharted territory. To be fair, we are already in uncharted territory. A lot of this has to do with Brexit of course but there are other reasons.
If we are in a recession or heading to one soon, the BoE is at 0.50% and only has 50 basis point to go to 0. They will have to go negative. Perhaps many are realizing this.
EUR/GBP has retraced back to the Trading Range and is having a hard time to break out. Seems like it needs more liquidity from the OB, in order to reclaim the Upper Range and continue to its bulltrend. Otherwise this whole movement will become a Distribution.
Please let me know if you have any...
EURGBP broke through the support zone and is now below the important level of 0.909
I expect the price to fall to the level of 0.892 (growth is possible to the resistance level of 0.909 and a further fall to our target)
Share your vision of EURGBP in the comments and like if you agree with this idea.
GBP Gained some strength and as a result, we saw EURGBP fall. Price is showing potential to retrace and re-test recently broken support before it continues bearish.
Grey line - Entry
Green line - Take profit
Red line - Stop loss