ridethepig | EURGBP Market Commentary 2020.08.14
EURGBP finding a bid from 0.900x as widely expected since earlier in the month. Here actively adding longs on the pullback for a move towards 0.915x highs.
Little Britain are still nowhere near out of the woods yet with the 'oven ready’ Brexit still to come later this year.
For those wondering why not Cable? It’s very tough to time a bottom in the dollar with the artificial devaluation underway, flows will eventually exhaust hence recommending caution in GBPUSD. My preferred vehicle for expressing a weaker GBP and profiting from the economic bondage is EURGBP.
On the technical side, those with a background in waves will know we are preparing for an impulsive wave targeting the 0.908x and 0.914x minimum flow. Eyes on the close today, a lot of talk making the rounds of a pound clearout.
Thanks as usual for keeping the feedback coming 👍or 👎
Little Britain are still nowhere near out of the woods yet with the 'oven ready’ Brexit still to come later this year.
For those wondering why not Cable? It’s very tough to time a bottom in the dollar with the artificial devaluation underway, flows will eventually exhaust hence recommending caution in GBPUSD. My preferred vehicle for expressing a weaker GBP and profiting from the economic bondage is EURGBP.
On the technical side, those with a background in waves will know we are preparing for an impulsive wave targeting the 0.908x and 0.914x minimum flow. Eyes on the close today, a lot of talk making the rounds of a pound clearout.
Thanks as usual for keeping the feedback coming 👍or 👎
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Eyes on EURUSD completing the move towards 1.20xx as EURGBP breaks out...
