If you look at the daily chart below, the current candle is developing a shooting star. I understand there is a lot of time today before the candle closes, but some sort of near term reversal candle may develop:
Although the EUR/GBP may head higher in the future because of “Brexit” fears, or perhaps expectations of a BOE rate hike continue to push out towards 2017. In the very near term, we could see a pullback towards the .7500 pence level again.
Blake Morrow
Chief Currency Strategist, Wizetrade
Disclaimer: I am looking to establish a EUR/GBP short in the next 24 hours
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