Price Action profit eur/gbp, forex outlook

Posted by on Mar 15, 2013

By David Ruscelli

This post in italian





What happened to the eur/gbp trade price action?

I would say that it went fine, we reached a profit, it also performed a timid breakout of the support, not a very obvious one between 0,8610 and 0,8630. We are clearly against trend in particular in the UK, the macro economic data continue to be negative, so I would advise to stop and not risk any further, we are awaiting a trending signal of support in favor of the trend based on mobile average.  


 eur pound sterling trading forex price action



On the Fiber we see a consolidation in the area 1,2900 – 1,3150, it seems that a flafg is forming in trend, we could be seeing a small rally up to  1,3100, shorting in price action over this position would be terrific! The outlook remains bearish.


 fiber trading forex



And here as well after the false intraday break of the support in area 1,4880, we see a bullish movement that could end up over the area of resistance above it, in the area 1,5300 1,5400, it will be the ideal area to come back in with a trade of price action in favor of the bearish trend, unless the momentum is too unfavorable.


 cable daily


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