After a few failed signals today which was very frustrating I am still short on EURGBP. Price is now rejecting a Daily resistance zone and also hitting the top of the Bollinger band.
If you are not able to see the big picture, especially in Forex, then it is very difficult to trade these days. Market is still being traded on the various themes but only difference is that now volatility is very low and trend is kind of non-existent.
Now who is able to trade a 20 pip / day range with 20/30 pip stop-loss ( as a newbie Forex trade will put it...
Expecting now a correction of the price. I am looking for long in this pair... but I am a scalper... I want the cash now!! so I believe the pice is gonna retrace and then continue to the upside.
Let's see!
Hello Traders
The last bottom can be the end of the weekly corrective structure which means the current upward wave can be the starting of the weekly up impulse. Now, I'm waiting for a correction and a reversal impulse. After that, I will wait for a small correction to place an entry order. My target is huge but as you can see my expectation is a higher degree...
Weekly structure is finding some support at 0.8550 zone...
Are PA suggesting reversal back o upside soon since break down from 0.87 level?
this weekly close will tell more... let's see
Fundamental view: GBP still finding some good news from PM May... but seems things getting more certain that the deal is not going end well...
as too much delay, back n forth...
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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