according to me the EUR/GBP shows very positive signs for a sell. the news today of the EUR not so strong and the news which impacts the GBP greatly shows positive, so for me i would go for sell on the EUR/GBP... am already in profit by 8 pips...:-)
Since the 8th of November, the EUR/GBP has been trading in a steady bullish trend movement above a Fibonacci fan, after having gained momentum at the support level around 0.7974. Recently, further increases were stopped by the resistance level around 0.8129. So far, all tests of this level failed and the rate returned to the close support level around 0.8060. But still both indicators are not set to provide us with bullish signals, why we might see the rate entering a sideways movement between these two levels.
Joined Feb 2011
Status: Trade the hot hand.
This pair could fall fast Monday. Last month's candle is a nice looking bear reversal after 7 consecutive up months. Was surprised to see last month retrace as much as it did and close green, but may just be a brief pause before the downtrend resumes. Daily chart is showing a bearish inside bar and .85 looks like an area inside Friday's range that should get defended should we get back up there.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.