EURGBP 10/5/2020 (MIDAZ TRADING STRATEGIES)

EURGBP

Last week our call for shorting this pairs was correct, after which we posted a buy call once the pair was nearing the major support zone, which was right again.

We would this is a more symmetric triangle formed, look for short term opportunities if it breaks out. ( Use stochastic )
Major support zone at 08688 range is strong.
Downtrend Resistance zone at 0.8777.
We forecast that the pair would continue its consolidation phase as the fundamental strength of both are equally weak.
Next week heavy data realise could rock the pair slightly , overall view is it maintains it range by the end of the week. )