The EURGBP is about to trigger a double top pattern as we test the 88% retracement on the daily chart.
The EURGBP has been held hostage by the resistance at the 61.8% retracement at .8930 which broke today.
Ahead of Thursday’s ECB meeting and with a crisis brewing in Spanish Catalonia the EUR is trading heavy or at significant resistance in some crosses which are worth watching for bearish reversals.
The US Dollar has experienced a prolonged and material decline in 2017. The DXY index has dropped from 102.80 (2nd January) to 91.33 (8th September), which roughly represents an 11% loss.
The Bank of England’s Monetary Policy Committee met last week and there were some interesting developments. We will try to sieve through the plethora of information and pick what we think were the salient points.
The EURGBP has been moving higher since the middle of April but we have good reasons to believe that upside momentum has stalled and in fact we are reversing lower.
Watch this comprehensive preview from Nicola Duke preparing you for what is coming ahead this week using her unique Harmonics approach and mesmerizing voice.