Price action around the 0.8850 level suggests a reversal away from trendline resistance and headed back down towards 0.8730. MACD is ready to roll and RSI already turned down.
Prior selling of GBP this week gives it room for recovery post Carney speech and possibly better Brexit news. Draghi not likely to say much to encourage buyers of the Euro, as usual.
Entry: 0.8850 would be the perfect entry but it's not too late as a 50 pip sop should put you well clear of any movement to the upside - so low risk.
Target: 0.8730 being the previous low from October 11th.
Prior selling of GBP this week gives it room for recovery post Carney speech and possibly better Brexit news. Draghi not likely to say much to encourage buyers of the Euro, as usual.
Entry: 0.8850 would be the perfect entry but it's not too late as a 50 pip sop should put you well clear of any movement to the upside - so low risk.
Target: 0.8730 being the previous low from October 11th.