EURGBP will go down again

30 Okt 2018

From April to August, there was a smooth uptrend on EURGBP, but the trend suddenly turned at the end of August and since then the market is in a downtrend. At the moment EURGBP is giving a sell signal to join that trend. Europound reached the resistance 0.8918 and Fibonacci 50%. What to expect now? Well, the uptrend in the last days was very strong, but it should fall at least a little. If EURGBP won´t make a move downwards now, it should on Fibonacci 61.8%. For the next few days or weeks, we are bearish about EURGBP.