EURGBP Short Trade

Jonathan Kibbler, September 6th, 2017

EURGBP has been climbing to the upside for some time now as the EURO gained significant strength across the pairs. However now we are starting to see a move lower in the EURO as exhaustion enters the market. GBPUSD held at significant key support and bounced showing it may finally be heading for the 1.3300 handle.

Looking at this pair we can clearly see from the higher timeframes price maybe retracing on the weekly & daily timeframes. The 4hr timeframe changed cycles and now we have our opportunity on the 1hr as price held at the moving averages (dynamic resistance). Looking for price to move lower.

Jonathan Kibbler

About the author: Head currency trader at Colmore FX. Jonathan has been professionally trained by two hedge fund managers in London and has grown a strong passion for financial markets. His trading strategy combines Daily, 4HR and 1HR charts with top down analysis to generate trading ideas.

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