Short EUR/GBP

11 feb 2017

Looking at the weekly chart on EUR/GBP we have formed what looks like a head and shoulders pattern, with the head forming at a monthly resistance level. A break and retracement of the neckline also confluences with a break and retracement to the trend line, our first target will simply be the gap fill left from the markets from the middle of 2016, as these have an incredibly high win % according to years of data. Our second target will be the old resistance around 0.74, as it didnt quite retrace there last year.