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Thread: EUR/GBP Analysis

  1. #1
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    EUR/GBP Analysis

    Technical and Fundamental analysis on the Euro and Great British Pound.

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    Markets can remain irrational longer than you can remain solvent.

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    These are the major trend support and resistance lines I see. The blue horizonal line is a biggy, around the area of 88.50. Break that area and close below then I think a further consolidation will be in process, especially if it breaks through at the point of confluence with the trend line and support line.

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    Markets can remain irrational longer than you can remain solvent.

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    Euro boosted initially in the NFP released but GBP quickly taking back the lost ground. I think there'll be a test of that 88.50 support sometime within the next week.

    Markets can remain irrational longer than you can remain solvent.

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    I think this is totally overbought. The euro is set for a big fall. It's like a rubber band being stretched; watch that recoil. Up by the stairs, down in the lift as they say.


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    I've gone short on this with a take profit of 0.8020. I believe the fair price for the EURGBP is around .70, and that's where I think it's heading long term.

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