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2 Sep 2015
EUR/GBP met with an upside nudge
A shooting star reversal seen on the EUR/GBP weekly chart is tipping traders off for a downside break.
The price rallied during the week, but pulled back to the bottom to close near last Monday's opening price. Considering what's happening on daily studies where the price structure has been at a considerable distance above it's 100-period SMA, the case for a retracement becomes highly compelling.
The price rallied during the week, but pulled back to the bottom to close near last Monday's opening price. Considering what's happening on daily studies where the price structure has been at a considerable distance above it's 100-period SMA, the case for a retracement becomes highly compelling.