My view on EURGBP. We are currently in a clear downtrend, but in the shortterm the market seems oversold and ready for a small corrective phase.
We just had GBP average hourly earnings data, and they were not so great, so there is scope for a shortterm move higher in this pair.
For the remaining time in this week i will be looking for small flag setups to BUY with a stop below 8460, looking to target the area 8530 / 8550.
On the medium/longterm i will be looking for tops in the 8530/50 area to SELL for a 5 wave move lower to 8350.
Blessings to you all.
We just had GBP average hourly earnings data, and they were not so great, so there is scope for a shortterm move higher in this pair.
For the remaining time in this week i will be looking for small flag setups to BUY with a stop below 8460, looking to target the area 8530 / 8550.
On the medium/longterm i will be looking for tops in the 8530/50 area to SELL for a 5 wave move lower to 8350.
Blessings to you all.
