EUR/GBP Downtrend Continuation (Huge News Event)

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Euro / Livre Sterling (FX:EURGBP)

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FX:EURGBP Euro / Livre Sterling

trendanalysis chartpattern waveanalysis downtrend news

Huge GBP news being released on Thursday, every news source is stating that interest rates will be rising. If interest rates rise, the price of the GBP will rise. Therefore EUR/GBP will go down. The reason I chose this pair is because it is already in a nice downtrend. However we are currently hitting a very key trendline, if it breaks im expecting a bounce from key resistance level and then a retest of the trendline before EUR/GBP to further move down. Trade safe traders.

Commentaire:

This was a fakeout, trade voided

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