EUR/GBP

Despite concerns regarding Italy’s banking crisis and the potential for the rise of euro-sceptic political parties, the single currency advanced versus nearly all of its major peers.
The appreciation can be linked to the combination of positive domestic ecostats and traders taking advantage of the Euro’s comparatively low trade weighting.
Meanwhile, the British Pound continues to struggle after domestic data showed Business Confidence slumped.
8490 got hit earlier,a short position looks likely back down to 8400,tight stop losses are the key here.

8540 was knocked out,stuck at 8500 for now,8490 looks like support medium term.

The pair reached 0.8620 today, I don't think that the move to the upside is over for now.

Or maybe it was over for the moment, considering that it has stalled there.

Looks like GBP/USD is heading back down to 1.2800

Perhaps. It's just consolidating sideways for now, but that also means it's not bullish at all.

Two areas I will be watching 1.3010 and 1.2907,yeah just going sideways waiting for a breakout.

snapdragon1970 posted:
Two areas I will be watching 1.3010 and 1.2907,yeah just going sideways waiting for a breakout.

What do you think about EUR/GBP? Do you think it will continue rising?

My view:GBP has to depreciate more to remain competitive,if you read BOE Carneys speech you will get the full picture,there's a 50% chance of UK slipping into recession according to Reuters. 1000 top lawyers signed a petition in London, doubt about the legality of the vote.

snapdragon1970 posted:
My view:GBP has to depreciate more to remain competitive,if you read BOE Carneys speech you will get the full picture,there's a 50% chance of UK slipping into recession according to Reuters. 1000 top lawyers signed a petition in London, doubt about the legality of the vote.

I read about the petition. Who knows whether it will work...

EUR/GBP strength in the pound off the Asian open,seeking 8400 for now looks like the next support area,this exit could drag on for 2 years,next speech by Carney will be interesting,Uk wants an informal chat with Merkel over Brexit,that's not going to happen according to reports.10 ways to leave the EU by Dailymail is worth reading.

I think we will see pound strength into the meeting on Thursday,what the BOE do next?

Nice bounce off 8300 ,on the move today after being knocked out yesterday,tomorrow will be BOE.

Credit Suisse predict Fresh Easing Measures from BoE but see Weaker GBP as Positive.

Not a huge surprise ,could have went either way,Long 8299 for now.

When Britain triggers “Article 50,” a two year timetable for leaving the EU begins. Davis says the new government should be in no hurry to start the process — despite the impatience on the continent. First, it should consult with all the stakeholders — including the Scots and the Northern Irish, two regions or nations within the United Kingdom that voted to stay in the EU. Moreover, Davis says, delaying will strengthen Britain’s hand in negotiations with the rest of the EU.

EUR/GBP reached 0.8416 but could not break above that level and started falling after forming a shooting star candlestick on the one hour time-frame. I think it will reach 0.8330 next.

The pair is testing the support at 0.8350 again. If it breaks below that level it will reach 0.8260.

Good luck today guys trading the EUR/GBP ,Carney will be the highlight of the day,expecting a rate cut this time around.