Banks going to dump this when price targets get hit including the big hedge/commercial funds. This is a pandemic. I can't be too bullish on anything until there is a vaccine. I was shock .90000 was not broken as it attempted twice. With the pound being the worst performing G10 currency of the month. Then my upward trend line was broken. So i decided to look a a higher time frame. ( 1h to 4hr ) Although i'm reading the banks have a price target of .90600 i can not trust the market makers. They are trying to make as much money now than ever.
Key notes By Pablo Piovano
EUR/GBP key levels
The cross is losing 0.02% at 0.8955 and a breach of 0.8864 (55-day SMA) would expose 0.8705 (200-day SMA) and then 0.8670 (monthly low Apr.30). On the other hand, the initial hurdle aligns at 0.9000 (monthly high May 21) followed by 0.9019 (monthly high Oct.20 2019) and finally 0.9324 (2019 high Aug.12).
If this appears it will break .90000 next London NY session, i will hold and sell my buys and then enter shorts up top. Good Day Mates!!! leave comments and likes. This is my favorite currency pair as of lately.
Key notes By Pablo Piovano
EUR/GBP key levels
The cross is losing 0.02% at 0.8955 and a breach of 0.8864 (55-day SMA) would expose 0.8705 (200-day SMA) and then 0.8670 (monthly low Apr.30). On the other hand, the initial hurdle aligns at 0.9000 (monthly high May 21) followed by 0.9019 (monthly high Oct.20 2019) and finally 0.9324 (2019 high Aug.12).
If this appears it will break .90000 next London NY session, i will hold and sell my buys and then enter shorts up top. Good Day Mates!!! leave comments and likes. This is my favorite currency pair as of lately.