A Conflict of Interest

Good Evening Dynamic Traders!

The EURGBP cross has been catching my eye for some weeks in anticipation of resuming the extended trend towards parity.

Although the weekly chart identifies a weakness, the daily chart below boasts a bullish flag formation whilst price movement today deliberates a trend support.

With the current retracement patiently poised at a momentous fib breather level and the mighty 'value index' affirming direction, it would be reasonable to barter a rally towards parity.

However, sub chart studies are singing a contrary chorus confirming that the market is always right!
A closer study of this cross may furnish us with clues for ensuing price action.


EURGBP daily chart Advanced

Below is the 4 hour chart for the same

Todays movement has punished the above analysis beckoning price through a sturdy trend support and the horizontal, where it is expected to conclude this evening.

Indeed the value index is rejoicing in the confusion!

Dynamic Traders should be well rehearsed in the use of on-chart tools to determine a likely 'undertaking' for tomorrows movement.

With rigid use of a risk management regime and an open and flexible mind set, the availability of a reward is at your finger tips.


EURGBP 4 hour chart Advanced Get

Now Moment Trading!

Saba Jackson