In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we analyse another break lower for the EURGBP.
When we look at the fundamentals behind the Brexit negotiations, you would be forgiven for not knowing what is going on and, more importantly, how it is going to get resolved. In situations like this, the commitment of others is often a good indicator of how this will end. With that in mind, we have seen the price of the pound appreciate over 5% compared to the euro.
This is significant due to the sustained move of prices lower since mid-August’s high. We are very close to seeing these prices break lower once more in the EURGBP. As a result, if we see prices break below yesterday’s low of 0.8849 then this could signify a decent opportunity for the price to push lower.
Another Break Lower for the EURGBP – Full Video Analysis
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