EURGBP- The long weekly trend will not disappoint you!
GBP is likely to continue to lose ground for EUR. Although I consider myself a retracement trader I have to admit that this rising trend is here to stay and will continue for several weeks as my projection forecast.
Technically the Regression Channel is showing that we are now at (-1 sigma STD) on the daily 200 LRMA (Linear Regression Moving Average). My experience has shown that this slight retracement on this pair is not sustainable so the odds are now favouring EUR, eventually will come back with the bullish signal after the completion of the retrace near the support, trend Line. You should Buy EURGBP near the support TL or when prices test it again. Good Luck! (Beware that this will be a Long-term Trade)
Technically the Regression Channel is showing that we are now at (-1 sigma STD) on the daily 200 LRMA (Linear Regression Moving Average). My experience has shown that this slight retracement on this pair is not sustainable so the odds are now favouring EUR, eventually will come back with the bullish signal after the completion of the retrace near the support, trend Line. You should Buy EURGBP near the support TL or when prices test it again. Good Luck! (Beware that this will be a Long-term Trade)
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