My opinion on
EURGBP
is bearish, we had surprising news from the ECB monetary policy statement which drove the Euro down with their stimulus package that attempts to boost the Eurozone economy, the press conference and the announcement of the ECB calling for a big fiscal stimulus as the ECB has mentioned that monetary policy would not be enough alone to help stimulate the Eurozone looking towards nations of the Eurozone to step up and boost their fiscal spending, during this press conference the ECB promised QE until their goals for inflation and growth were met with grantees of a rate cut next week was perceived as being bullish the Euro by the market which created a V reversal. However the next day on the Euro against the Pound Sterling this was not enough to sustain the reversal unlike most Euro pairs with the market breaking the previous outside return suggesting to me that the market may be planning on reaching the lows of 0.84939 but there is still the issue of the big known unknown of Brexit and we shall see next week what the UK plans on doing but for now since I am a purely technical analyst I will be looking for a retracement into my killzone looking for a reason for entry.
EURGBP
is bearish, we had surprising news from the ECB monetary policy statement which drove the Euro down with their stimulus package that attempts to boost the Eurozone economy, the press conference and the announcement of the ECB calling for a big fiscal stimulus as the ECB has mentioned that monetary policy would not be enough alone to help stimulate the Eurozone looking towards nations of the Eurozone to step up and boost their fiscal spending, during this press conference the ECB promised QE until their goals for inflation and growth were met with grantees of a rate cut next week was perceived as being bullish the Euro by the market which created a V reversal. However the next day on the Euro against the Pound Sterling this was not enough to sustain the reversal unlike most Euro pairs with the market breaking the previous outside return suggesting to me that the market may be planning on reaching the lows of 0.84939 but there is still the issue of the big known unknown of Brexit and we shall see next week what the UK plans on doing but for now since I am a purely technical analyst I will be looking for a retracement into my killzone looking for a reason for entry.