EURGBP has taken a pounding over the last few months, seeing bears take over the market. They are still in control, even though we are having some short term relief, looking for price to come up to the 71 % fib to see rejection to take shorts from here down to the -61.8%.
Good Afternoon Traders,
The Euro currently sits at a level imminent for a big drop with the potential returns of around 200-400 pips. The RSI currently indicates significant divergence and I believe the GBP will gain some momentum during the remainder of the year, boosting the strength of the GBP and driving the euro down (this can be seen by my analysis of the...