EURGBP - Poorly Postured, Looking Lower
05 Feb 2015 13:14, GMTTalking Points:
- EURGBP poorly postured on the charts
- Rejected this morning at the under-side of the channel off the 1/25 low
- A new swing low under 7404 looks probable in the days to follow
After getting a relief rally off the 1/25 low, Euro/Sterling has turned decisively lower with continued weakness looking likely. A broken rising channel line retest offers traders an opportunity to join the trend.
EURGBP 4/hr: Dec ’14 - Present
--- Written by Paul Robinson, DailyFX Research
To contact Paul, you can email him at instructor@dailyfx.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.