In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we have all eyes on EURGBP.
I’m sure you are aware that yesterday we saw the ECB keep interest rates at 0%. We also saw Mario Draghi explain to the markets that he is concerned about the potential economic slow down which is in the pipeline for the eurozone.
This is obviously not good news for the Euro. This, coupled with the significant bullish strength we have seen recently in the pound, allows us to focus on the EURGBP. The 0.8620 level represents a major 20 month low, so we are looking closely for a structural break below this level.
However, please do be aware that we may see some significant volatility. As always, have a strong emphasis on your ability to protect your own capital when trading.
All Eyes on EURGBP – Full Video Analysis
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