gdf_fx

EURGBP downtrend forming?

FX:EURGBP   Euro / British Pound
28 0 4
Possible sell on EURGBP            

Not one i like to trade too much, prefer watching for direction on cable and fibre.

Would ideally like to see a sell coming off the 50-62% retracement level

we previously ran into weekly resistance, rejected and then ran out the new highs formed before trapping buyers and selling off heavily. So far looks very bearish . COT sentiment considered we know that the market is heavily short GBP which could see more buying so i would be looking for sterling longs for the foreseeable future

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