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EUR/GBP may finally leave its range

EUR/GBP may finally leave its range

Information is not investment advice

EUR/GBP had an extremely volatile month. If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range. The fact that we finally got some big news about Brexit (a delay until October 31) can allow the pair to finally break out of this pattern.

Technical indicators suggest that a break to the upside seems more likely. Notice, however, that breakout trading is risky and requires thoughtful risk management. The negative pressure will return if the pair gets back below 0.8590.

EURGBP d1.png

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CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

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