EUR/GBP Trendline rejection + Physchological resistance, SHORT

25 Haz 2018

TECHNICAL

Reason 1:
- Price confined between two trend-lines since 30/05/2018
- Bullish move from 21/06/2018 now touched and formed a rejection candle off the top trend line resistance

Reason 2:
- 0.88 Physchological level acted as resistance, coinciding with the rejection of the trend-line

Reason 3:
- Price formed a higher low on 30/05/2018 - 14/06/2018, however this was printed as a lower low on the RSI chart
- Indicates bearish

FUNDAMENTALS

- "Hawkish MPC vote split revives August rate hike prospects and lifts the British Pound" fxstreet.com/news/gbp-jpy-surges-to-14600-neighborhood-on-hawkish-boe-vote-split-201806211105

- Euro involved in trade spat with USA, if this were to continue or ramp up will provide weakness for the Euro.

-Appreciate any thoughts, comments. Constructive criticism only please, thanks for reading.

James

25 Haz 2018

Not

- Retesting 0.88 level again, waiting for the IFO business climate figure to see which way it goes

25 Haz 2018

Not

False break X 2