Hi all,
As we know the Euro and the Pound have been diverging in price for a while now, causing the EURGBP to tear upwards. However the pound today has made a very solid recovery today from a decent base of support.
If we look at the EURGBP chart this has precipitated into a "correction" to the 7750 level which looks like nice support on the 4HR. (Just look at the awesome CT divergence trade that setup from the top).
With the Euro looking strong but at a zone of high resistance could we be in for a nice ride down on EURGBP if the pound revives from its slumber?
Any thoughts?
As we know the Euro and the Pound have been diverging in price for a while now, causing the EURGBP to tear upwards. However the pound today has made a very solid recovery today from a decent base of support.
If we look at the EURGBP chart this has precipitated into a "correction" to the 7750 level which looks like nice support on the 4HR. (Just look at the awesome CT divergence trade that setup from the top).
With the Euro looking strong but at a zone of high resistance could we be in for a nice ride down on EURGBP if the pound revives from its slumber?
Any thoughts?