2 simple reasons to short this breakout:
1) Comparing the monetary policy stance between both central banks, the ECB said last week that their rates will remain at current or lower levels, while BOE kept their rates on hold without any hint of cutting rates.
2) This is the second attempt to break the supply zone in a year, however, there is no Brexit announcement or major economic data until the release of UK's GDP numbers next Friday.
1) Comparing the monetary policy stance between both central banks, the ECB said last week that their rates will remain at current or lower levels, while BOE kept their rates on hold without any hint of cutting rates.
2) This is the second attempt to break the supply zone in a year, however, there is no Brexit announcement or major economic data until the release of UK's GDP numbers next Friday.
Trade closed: stop reached