After the fall I've hypothesized about a rebound, but more and more it looks like this might turn into a proper downtrend.
GBPEUR Forex Chart
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NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. Lets watch the market do its thing. So GBP has been shit lately. And frankly, it deserves to be, with the hopeless negotiatiors of the Brexit team. After the fall I've hypothesized about a rebound, but more and more it looks like this might turn into a proper downtrend.
Data from UK was weak - inflation was lower than expected, retail sales disappointed and employment change was a touch weaker. Things are not looking good in the UK and with Brexit still looming large ever closer on the horizon, GBP may be poised for new lows. With fundamentals weakening, what of the technical outlook?
Price looking like its turning around. Await DEMA cross and then short. Let's see how it goes! Head and Shoulder Formation. Long GBP, manipulation and stop run complete. Breakout of a wedge pattern.