The EURGBP is doing its best to impress but remains vulnerable to a negative turn with all trading below the 8595 Inflection Pivot. A held rise above 8595 is needed to give the positive signal any credibility targeting 8734 and 8868 on any held advance. Don't buy into it. A rejection is expected on the initial challenge.
Trading below 8595 keeps the MKT in a soft spot down to 8436 with the potential of slipping as low as the 8308-8235 support band. Opportunist will no doubt find value here, however an emotional advisory warning is the forecast. 7743 is the low point for any sustained decline.
JS
This post supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.
