I am a bear on the euro due to current political risks and uncertainties in the Eurozone. Furthermore, regardless of the facts of Brexit, the pound remains resilient, and thus I will look for shorting opportunities throughout the day on this pair.

EUR/GBP Dailychart

Price has opened the month below MPP, and thus bearish toarget may extend towards MM1 and MR2. The 21 and 55 Ma's have crossed to the downside, developing nice angle and seperation. We also have the daily stochastics turned to the downside, indicating possible downside continuation.

EUR/GBP H4 chart

Price has opened the week at WM3, with Bearish target hit of WM1, however this pair is currently trending and thus I believe until we see a higher high, we will continue to see lower lows. I will look for an entry around the 0.8500 level, which is also the 50% fib retracement level, as well as role reversal support turned resistance.

EUR/GBP H1 chart

Price appears to be opening the day at DM3/DR1 resistance and bear entry zone, with targets of DM1/DS1. these levels coincide with the 0.8500 psyche level, as well as my fib retracement levels. I will be looking for reversal patterns on both the 5 and 15 minute charts.

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