Hello Traders, Yaroslav here!
We have been watching the EURGBP currency pair rip past resistance levels for the last few weeks. Political turmoil and investor uncertainty has caused severe loses in the British currency but just like all moves in the market this move too must have a correction. Because the move is so pronounced and has little fundamental support...
EURGBP reached an interesting fib level.
GBP is this days very week so there should be a correction for all GBP pairs soon.
Be very carfeful with this one, we only get in if its rejects at the zone.
We have our stoploss over the 0.618 retracement and a good risk reward ratio.
Overview
EURGBP broke out of its range, broke the Supply zone (green area).
There is a nice confluence of a S/R line (blue line) and the 61.80% Fib level.
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
Please consider:
This information / article is only for educational purporses and not a recommendation to buy or sell.
I'm not a...
If we look at the 1H chart, we can see the EURGBP is in strong and long bullish momentum, the indication that this bullish momentum is about to end is the combination of the supply above and The CCI indicator divergence, on the 1D chart we can see the price is just about to hit the supply above, this supply seems fresh and it’s the first time the price will touch...
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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