eurgbp

Euro vs British Pound Sterling

EUR/GBP

Update 30/11/2015

Has been a while since I got round to updating this pair but it has been beautifully cyclical in it’s price movement. The last update expected a cycle low of at least 40 week magnitude towards the end of August/mid July. Here is the latest phasing I have:

EURGBP_£__daily_30_11_2015The 20 week cycle has traced out in a neutral fashion indicating a flat to downwards underlying trend. I took a long on a cross of the 20 day FLD to the upside last week and the target T2 was exceeded at around 7055. I am expecting more upside, perhaps to the 80 day FLD.

Update 15/07/2015

The ‘F’ category interaction is in progress and I am short. Initial T2 target is 6979, which I expect to be overshot for this move and I will hold for the 80 day and potentially 18 month low due late this month. This should take price lower and then it is time to think about getting long.

EURGBP_£__daily_16_07_2015

Update 08/07/2015

Price moved up in an ‘E’ category interaction with the 20 day FLD and the upside T2 target is 7215 here. I didn’t take this trade in the end as mentioned in the last update. I want to wait for the next shorting chance in the Euro crosses.

EURGBP_£__daily_08_07_2015

Update 29/06/2015

The euro against the pound continues to show excellent cyclic rhythm. After bouncing out of an 80 day low on the 27th as described in the previous update on the 1st of June it has traced out a bearish looking 40 day cycle, breaking the 20 week low yesterday evening. Next up is a long back up above the 20 day FLD but, as in the EUR/USD, I will possibly not take this trade. I will prefer to wait for the ‘F’ category short which should yield a good profit as price moves down into what could be an 18 month low, according to this phasing.

EURGBP_£__daily_29_06_2015

Update 01/06/2015

The Euro has moved out of what is most probably an 80 day cycle low after tracing out a nice neutral shaped cycle from a probable 20 week low back in March. Price has crossed the 20 day FLD to the upside in an ‘A’ category interaction, projecting an initial target of around 7300. This should bring price neatly underneath the 20 week FLD which, if the phasing is correct, may well form resistance and a peak of the 80 day cycle. So long initially and watching closely for a chance to short later if the smaller cycles indicate bearish sentiment.

Looking forward, according to this phasing there is an 18 month cycle trough due mid July.

EURGBP_£__daily_01_06_2015

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