Selling EUR/GBP Again Today, Below the 100 SMA
EUR/GBP is trying the upside again today, but it's finding strong selling pressure below the 100 SMA
EUR/GBP turned quite bearish at the end of December, after the EU and UK reached a trade deal, validating the Brexit deal, otherwise it would be useless. The GBP started gaining pace and this pair lost more than 7 cents from top to bottom.
We have had quite a few winning signals, as we kept selling this pair during pullbacks higher. But in April we saw a decent retrace higher which took this pair 250 up to 0.8715. Although, it seems like this was the target for buyers.
They have been finding it difficult to push the price higher, finding strong selling pressure up there. We sold this pair up there earlier this week, booking some nice profit. Now we trying another sell signal, as the 100 SMA (green) is approaching on the H4 chart. So, we are short on EUR/GBP again, hoping that the price will fall to the 50 SMA (yellow) again.
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