Price peaked yesterday on the ERGBP and started to plummet down rapidly. Major support broken at 0.90788 and a nice retest can be seen on the 1hr chart this may be a good chance for an entry on this one.I am personally going to hold my trigger until we see some more bearish confirmation such as the stochastic cross and the MACD cross. EMA has crossed this morning which would be the first thing i look at when trying to find out weather a trend reversal is on the cards or not. We have a couple bearish candles here off the support turned resistance. As i say this could be a great sell but wait for some more bearish confirmation.
Euro is looking very good in the fundamental side of things as all data coming out for the Euro is good. For the past two pays anyway. German whole sale prices are up from last period an above the foretasted. German Retail Sales YoY are up from the last period by a substantial amount. German Retail Sales MoM are up also by a very substantial amount. All in all great news for the Euro this morning. We've still got some news to come out of the euro-zone later on we will see what this is but at the minute the Euro looks very bullish fundamental.
Euro is looking very good in the fundamental side of things as all data coming out for the Euro is good. For the past two pays anyway. German whole sale prices are up from last period an above the foretasted. German Retail Sales YoY are up from the last period by a substantial amount. German Retail Sales MoM are up also by a very substantial amount. All in all great news for the Euro this morning. We've still got some news to come out of the euro-zone later on we will see what this is but at the minute the Euro looks very bullish fundamental.