Is the EURGBP going south again?

Dear Dynamic Traders,

Hope you are enjoying your weekend and are getting ready for another exciting trading week. I find keeping this thought in the forefront of the mind to be very helpful - no moment in the market is the same therefore in order to look forward you must try and remove all your assumptions and presumptions of what you think "might" happen. Just let the market guide you, that way you are not emotionally involved and it makes no difference to you which way the market goes as long as you are ready to accept the opportunity. A lot easier said than done, I know, but as with everything in life, if you keep trying you will get there.

I have posted the EURGBP chart below as it presents a potential opportunity. Price is finding resistance around the trendline and the value index. Indicators suggest a potential resumption of trend down. However you will note a mini trendline support (drawn on the chart) which needs to be penetrated for confirmation. The conservative traders may decide to wait for the recent low to be broken before entry.
















Good Trading!
Bijal Shah

www.fxcps.co.uk
www.fxcps.eu
www.dynamictraderblog.com

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