The beak down below ht 0.9000 level opens up the pair for a deeper sell off. What triggered the current sell off in eurgbp has to do with something more fundamental. The mini budget released last week supported positive GBP sentiment as the dominant aim is to avert the danger of massive unemployment. That essentially provides a substantial fiscal boost and coupled that with loose monetary policy can help to limit impact on both businesses and individual.
I like to say that I have sold on break of 0.9000 but because I only have time to write this now, that sell on break trade wont matter from here. So I would say sell at 0.8965 for 0.8835 with stop at 0.9050.
I like to say that I have sold on break of 0.9000 but because I only have time to write this now, that sell on break trade wont matter from here. So I would say sell at 0.8965 for 0.8835 with stop at 0.9050.
Trade closed: stop reached:
very unfortunate, trading breakout for FX has been tremendously frustrating these days for me.
so we have UK GDP releasing wrose than expected and UK's 2 yrs bond yield declined to record low of -0.126%. That really take the shine off GBP and hence we saw EURGBP triggered my stop.
Just frustrated.
so we have UK GDP releasing wrose than expected and UK's 2 yrs bond yield declined to record low of -0.126%. That really take the shine off GBP and hence we saw EURGBP triggered my stop.
Just frustrated.