EURGBP SELL
EURGBP
The euro against the pound remained in an uptrend, supported by an ascending oblique and the SMMA 50. After breaking this oblique, an ascending flag has been forming for a few days but it too has been broken, a pullback is visible.
For me, the break of the SMMA 50 and the oblique support, invalidates the scenario of rise hoped by some and it clearly gives a bearish signal.
As the idea of a recession is becoming more and more present in Europe, the euro should continue to depreciate in the coming weeks to the benefit of the pound.
--Not a financial advice, just my opinion.--
The euro against the pound remained in an uptrend, supported by an ascending oblique and the SMMA 50. After breaking this oblique, an ascending flag has been forming for a few days but it too has been broken, a pullback is visible.
For me, the break of the SMMA 50 and the oblique support, invalidates the scenario of rise hoped by some and it clearly gives a bearish signal.
As the idea of a recession is becoming more and more present in Europe, the euro should continue to depreciate in the coming weeks to the benefit of the pound.
--Not a financial advice, just my opinion.--
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