EURGBP to 0.85? Anyone else with me?
Hey Traders! 👋
For Day 30/100 of our challenge, we will look at EURGBP for downside potential this week/month
Technicals:
- Overall downtrend
- Break below 0.858 support
- Support created at 0.0.854
- Expecting retest back to 0.858 for potential shorts
- Or a break and retest of 0.854
- Target is 0.85
- Invalid thesis when 0.861 is breached to the upside
Fundamentals
- Expecting less room for ECB to rate hikes; they will this month by 25bp but sound less hawkish
- Expecting GBP to be stronger given better domestic data and an aggressive peak rate pricing
That's all for today. Forecasts these week on TradingView has been awesome.
Follow and stay in touch 🥂
For Day 30/100 of our challenge, we will look at EURGBP for downside potential this week/month
Technicals:
- Overall downtrend
- Break below 0.858 support
- Support created at 0.0.854
- Expecting retest back to 0.858 for potential shorts
- Or a break and retest of 0.854
- Target is 0.85
- Invalid thesis when 0.861 is breached to the upside
Fundamentals
- Expecting less room for ECB to rate hikes; they will this month by 25bp but sound less hawkish
- Expecting GBP to be stronger given better domestic data and an aggressive peak rate pricing
That's all for today. Forecasts these week on TradingView has been awesome.
Follow and stay in touch 🥂
Find me on Twitter 👍
See you there! 👽🥂
See you there! 👽🥂
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