EURGBP remains bearish, testing key trendline
In the past few hours, this pair has been posting lower highs and lower lows. Fractal wise, we are looking bearish trend. However, we do have an ascending trend line that has yet to be tested. Although I cannot show it here, the EURUSD is currently selling off while GBPUSD has remained stable. The cross results in a greater weakness in the Euro currency and so I would go for a conservative sell if for an early entry. For those that want a safer route, I would wait for a pullback after it breaks below the ascending trend line.
Disclaimer
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.