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EURGBP - Poorly Postured, Looking Lower

Paul Robinson

DailyFX.com -

Talking Points:

  • EURGBP poorly postured on the charts

  • Rejected this morning at the under-side of the channel off the 1/25 low

  • A new swing low under 7404 looks probable in the days to follow

After getting a relief rally off the 1/25 low, Euro/Sterling has turned decisively lower with continued weakness looking likely. A broken rising channel line retest offers traders an opportunity to join the trend.

EURGBP 4/hr: Dec ’14 - Present

EURGBP - Poorly Postured, Looking Lower
EURGBP - Poorly Postured, Looking Lower

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at probinson@fxcm.com


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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