Blue Mind FX - Weekly Analysis EURGBP

FX:EURGBP

EURGBP is currently in a downward channel. I would like to see the price move further towards the edge of the channel before making a decision. Currently it looks as though price broke out of a smaller channel and I would like to see a clear respect of the outer channel before making a trading decision. I would be looking for a short down to the main resistance and a potential retest of the higher resistance.

Remember that we are currently in a period where most of the main market movers will be less active. That said people still need to buy money and orders will still need filling, so for now we will assume technical analysis will hold up.

These are purely analysis for the week leading 29th December 2019 and should not warrant any trade actions. They are purely for analysis and technical reference for you to put your own trading ideas to.

Join the free Telegram chat for free signals! @BlueMindFX