EURGBP Long IdeaExpecting some bullish pressure of the EURO.
Price made a bearish fall but ultimately respected the monthly trend line.
Price then formed a double bottom (which is a bullish candlestick pattern)
There was also bullish divergence confirming that price was ready to make a push to the upside.
I am looking to enter a long positon, once price make a retracement and test the neckline of the double bottom, which also will fall between the 50.0 and 61.8 Fibonacci level.
Bearishpound
GBPUSD Analysis 3/21/021
This week I am expecting some volatility in the market due to the fundamentals. On March 22&23 there is US news, where Fed Chair Powell will speak. This news heavily affects interest rates which can possibly make the USD stronger. There is similar news regarding the British pound on the 25th.
The higher a country's interest rate, the stronger their currency.
A stronger USD will cause a bearish move
A stronger GBP may cause a bullish move
I am expecting price to try and make one last push to the upside, to gain some momentum for a strong bearish push to the downside.
I am looking to enter a sell around the area of 1.39102