EURGBP has just entered the weekly .5-.618 fibonacci zone. I think this week is going to start off with a lot of buying of selling of the GBP for profit takers that realized solid gains last week. This is either going to be a bounce off of this fib zone and higher, or it'll come back down and continue down.
Note
correction* - a lot of selling of the GBPNote
looks like a break in the steep fall recently. I see a bounce or perhaps some consolidation around the trendline. Note
Here is a better picture of the breakNote
still playing the waiting game. I expect upward movement this week.Note
And upward movement we have!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.