EURGBP Possible Trend Change
Aktualisiert
The values given to short and for stop losses are only rough estimations. I'll be waiting for a reversal and a pullback to retest previous highs on a lower time frame for entry. Make sure you have a plan that works for you and that you stick with it before doing any trading.
The EURGBP pair appears to be setting up for a trend reversal here. The Head & Shoulders pattern is a reversal pattern that occurs when the current trend is unable to continue any further.
With all the uncertainty around the European banking situation (both in Italy and DB), Greece not meeting it's reform expectations, and all the other issues the EU faces, I'm expecting the Euro to be weak for awhile still.
Bank Slump Triggers Worst Week in Three Months for Europe Stocks
bloomberg.com/news/articles/2016-09-16/europe-stocks-little-changed-as-deutsche-bank-drags-down-lenders
French President Francois Hollande said: "Either we move in the direction of disintegration, of dilution, or we work together to inject new momentum , we relaunch the European project."
bbc.com/news/world-europe-37380429
Jean Asselborn: Hungary “should be excluded temporarily or if need be forever from the EU”
welt.de/politik/ausland/article158094135/Asselborn-fordert-Ausschluss-Ungarns-aus-der-EU.html
The EURGBP pair appears to be setting up for a trend reversal here. The Head & Shoulders pattern is a reversal pattern that occurs when the current trend is unable to continue any further.
With all the uncertainty around the European banking situation (both in Italy and DB), Greece not meeting it's reform expectations, and all the other issues the EU faces, I'm expecting the Euro to be weak for awhile still.
Bank Slump Triggers Worst Week in Three Months for Europe Stocks
bloomberg.com/news/articles/2016-09-16/europe-stocks-little-changed-as-deutsche-bank-drags-down-lenders
French President Francois Hollande said: "Either we move in the direction of disintegration, of dilution, or we work together to inject new momentum , we relaunch the European project."
bbc.com/news/world-europe-37380429
Jean Asselborn: Hungary “should be excluded temporarily or if need be forever from the EU”
welt.de/politik/ausland/article158094135/Asselborn-fordert-Ausschluss-Ungarns-aus-der-EU.html
Anmerkung
Time to start looking for shortsAnmerkung
This idea is on hold for the moment while the Bank of England does everything in it's power to weaken the Sterling
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