EURGBP Collapsed as Projected

The pair fell as projected and achieved the .7300 rather quickly.  I'm flat this pair now and waiting for the unemployment news tomorrow before stepping back in to analyze the markets again.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

EUR/GBP Topping

The EURGBP is very stretched at this point and the 5 wave rally accompanied by RSI divergence is sending a strong signal that a nice pullback of 100+ pips is coming very soon. I'm targeting the 7300 area since that's just below the previous 4th wave and also round number support.


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.