EUR/GBP Forecast: Long

Here is our analysis on the pair

RECAP: (Previous Analysis)

In our previous analysis EUR/GBP was trading @ 0.86299
We were bearish on the pair & expected it to go back & test previous support.
This is exactly what happened, the pair fell to lows of 0.85500
triggered our Sell Order & hit our TP.

WHAT TO EXPECT:

This week we expect a short term bullish Euro, since both Euro & Pound are bearish
we would expect the EUR to outperform the GBP.
We expect the pair to test previous resistance @ 0.86500 & try to break above it
If the pair fails to break above this resistance we would expect it to fall back to current support.

OUR POSITIONS:

Currently @ 0.85600
Buy Stop @: 0.85750
Buy Stop TP @: 0.86360
Buy Stop SL @: 0.85200


Link to previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.