Wednesday, August 17, 2016

Has Eurgbp peaked?

We have been following Eurgbp for a long time. At a point, we stopped updating until a clear pattern emerges.
Seems we have something to look at. Read previous posts on Eurgbp 

The chart below shows a good probability of a bearish move. It seems the price is overbought and an a fall is imminent.

 The chart above also shows that the last bullish move didn't have enough volume to drive it further and yesterday daily bearish candlestick was accompanied by good bearish volume.


We may see a fast move downside especially if price break downside below the rising trendline on the hourly chart shown above.

An immediate move to 0.8296 is likely before price head to 0.7570 in the short term. You can join our trading room where we take closer look and share trade signals with targets and stop loss. Join HERE

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