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EUR/GBP Touches 1.5yr Low, But More Downside Potential Remain

After three consecutive daily pullbacks – including fresh yearly lows around 0.84057 as at the week trading starts….we saw a breakout from a minor support lever @ 0.84680 region, we should see more drops for the price to touch our strong support @ 0.83000 region which was April 2018 drop …….From a technical perspective, rates remain in a clear downtrend

While it’s true that traders generally fear uncertainty (and with the looming specter of Brexit and now an election in less than two weeks’ time, there is no major currency that’s experienced more uncertainty this year than the pound), it’s also true that ambiguity creates opportunity for traders.

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Best Wishes
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09 Dec 2019 4:49 pm Posted by admin