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

Published by on February 22, 2014 | 2 Comments

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

 

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