EURGBP Short

Next week is a big one for the pound, and by extension the EURGBP. Assuming there are no fundamental surprises in data I’m expecting the EURGBP to move lower. Analysing the volume and the divergences between the current price moves and indicators suggest that this recent move is beginning to run out of steam. That being said, I wouldn’t be surprised if the pair reaches the 0.89-0.895 level before moving lower.

My entry was 0.8891 with my profit levels as follows -

TP 1 - 0.8800
TP 2 - 0.8770

I believe the pair will continue move within the pre-existing rising trend line (BLUE) but I anticipate any significant moves will be resulting from interest rates and, or, the war.

As always, this is just my opinion and should not be used as an entry into the markets. Don’t forget, opinions are like arE holes, everyone has one and they mostly produce sh1t

Happy trading!