So I posted this chart some months ago (see tagged) and with the referendum on the 23rd of June, currently polls are favouring the UK to exit the EU!
The head & shoulders pattern is clearly in formation and BREXIT could be the cause for this pattern to happen. A break of the 1.3825 area would indicate that this may happen. If it does then we could be seeing a 1400-1800 pip move to a price area of 1.0!
Keep your eyes on this pair. My advise is to not trade any GBP pairs this week and next and set a pending sell order below the neckline shown on the 2 weekly or monthly timeframe. I personally will be aiming to close all trades I have associated with EUR & GBP pairs this week.
For more information, follow me on here, Twitter or sign up to my upcoming released website: www.ejfxtrading.com
The head & shoulders pattern is clearly in formation and BREXIT could be the cause for this pattern to happen. A break of the 1.3825 area would indicate that this may happen. If it does then we could be seeing a 1400-1800 pip move to a price area of 1.0!
Keep your eyes on this pair. My advise is to not trade any GBP pairs this week and next and set a pending sell order below the neckline shown on the 2 weekly or monthly timeframe. I personally will be aiming to close all trades I have associated with EUR & GBP pairs this week.
For more information, follow me on here, Twitter or sign up to my upcoming released website: www.ejfxtrading.com
