EUR/GBP Forecast April 19, 2017, Technical Analysis

The EUR/GBP pair initially tried to rally during the session on Tuesday, but found enough resistance at the 0.85 level to be turned around. By doing so, we broke below the bottom of a massive uptrend line, and now have cleared the 200-day exponential moving average. Because of this, the market looks as if it is ready to fall rather significantly, and I am extremely bearish as the British pound has broken out in general. Short-term rally should continue to be selling opportunities and I believe that this is the beginning of something rather big in this market.

Eracash.com - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com