EUR/GBP Forecast April 20, 2017, Technical Analysis

The EUR/GBP pair rose slightly during the day on Wednesday, testing the previous neckline of what I see as an inverse head and shoulders. Because of this, I’m looking for selling opportunity but I need to see some type of exhaustive candle or a breakdown below the bottom of the range for the Wednesday session to start shorting again. With this, I believe that this pair goes much lower, but we may need to take a bit of a breather in the meantime after the massive move in the British pound overall during Tuesday’s trading.

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