EUR/GBP weekly forecast 24th-28th February 2014

This has been a text book trade last week. Basically eur/gbp is in a bearish trend and the trendline held even after not amazing UK data. Considering that the euro did not advance even with some pound weakness is a signal that this pair could trade lower.

eur/gbp

 

If on monday we will see some weak CPI data in the euro-zone we will be likely to see a move lower. Probably before the pair will attempt to touch the descending trendline and if we break above the 0.8270 level I would wait for 0.83 to enter shorts

 

Make your own technical analysis with our widget:


Filed in: EUR/GBP Tags: , , , , , , , ,

You might like:

Is the stock rally already over? Is the stock rally already over?
ECB unleashed QE in the curerncy war, who is the next? ECB unleashed QE in the curerncy war, who is the next?
Is the Eurozone doomed to fail? Is the Eurozone doomed to fail?
Germany Avoids Triple Dip Recession Germany Avoids Triple Dip Recession

2 Responses to "EUR/GBP weekly forecast 24th-28th February 2014"

Leave a Reply

Submit Comment
© 2956 How to trade for a living. All rights reserved. XHTML / CSS Valid.
Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions..