Whatever is going to happen to the pound and the euro after Brexit and all that jazz…who knows? I am not smart enough to assess the situation and consequences for the currency pair. So I keep looking at the charts. And the weekly I find interesting.
As you can see, the trend is on the weekly is switching from bull to bear. Ok, sideways for now. It’s not perfect, I admit. But sometimes it’s better to be early than late.
So this chart is telling me to sell. Minimum target are the latest lows, extended targets are marked by black horizontal lines on the chart.
For the sake of completeness, this trade will be invalidated if price surpasses roughly 0.9030.
* Remember, I don’t give investment advice. These are not trade recommendations. I write these posts for joy and entertainment. Always take responsibility for your trading decisions and analyses and don’t ever blame me or anybody other than yourself. I might or might not be positioned in the instruments I write about.