Bears continue to sell EURGBP, see why?

EURGBP Weekly

EGW

I have posted a number of articles over the last several weeks in regards to the opportunities that have been available to sell EURGBP.

My opinion remains the same for now with the bears continuing to sell into intraday rallies since the 1:1 (Purple) attracted strong selling interest at 0.73900. As long as the market can stay below the 1:1 (Purple),  the momentum will likely pick up on the down side as bears push for stops below the 0.70000 level.

* A 1:1 refers to a current correction being equal in length to a prior correction

ABOUT REECE MARINI

Reece Marini is an FX trader and Director of the http://forexhft.com an instant Forex rebate and Signal provider, if you would like to subscribe to our daily reports you can do so here its FREE

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