GBP: bullish trend under question
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EUR/GBP: going down?
Information is not investment advice
Brexit is still hanging. The EU Summit didn’t give any conclusive signal to the UK. Nor did the European Union’s member states come to an agreement between themselves no how hard they should stick to the red lines and how impenetrable those red lines are for the EU. In any case, Boris Johnson is supposed to decide whether he wants to walk away from the negotiations or continue them – today. The day has just begun in the UK and EU, and hours are ticking.
In the meantime, EUR/GBP is going further and further down pressed by the channel resistance. In the last episode, the currency pairbounced downwards from 0.9080. If the logic of the movement stays the say, we will see 0.9000 reached pretty soon. But the day isn’t over and the tension is high: reversals are possible in all directions. That’s why watch 0.9040 on the downside as well, and look for trend reversal chart formations to make sure there is no surprise from bulls. Or bears.
Gaspar Markosyan
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GBP: bullish trend under question
Jump in to get the technical analysis of GBP/JPY and GBP/USD!
Gold: trade the sideways move
How to trade the gold price while it's oscillating between 1 837 and 1 864? Read the article, and you'll know how!
$1.9 tln stimulus is unlikely to support the USD in long term
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
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