GBP/EUR Historic 66 Year Lows

GBPEUR began its trading life January 1953 at 2.6564 and today after a straight 66 year downtrend closed at 1.0970.
What remains in monthly averages is 1.0975 August 2017, 1.0896 January 2009 and 1.0877 March 2009.
The corollary to 1.0877 is EURGBP 0.9193, and 1.0896 = EURGBP 0.9177 and 1.0975 = EURGBP 0.9111.
EURGBP confirms the message to GBPEUR as EURGBP cannot trade long.
Vital to Brexit and economics is 50% of all trade passes between the UK and Europe.
GBPEUR to move higher must break 1.1244 to target easily 1.1352 and remains deeply oversold not only from 1.1244 but from every MA from 5 to 253 days and its 10 year average at 1.1977.
EURGBP sits deeply overbought from its break point at 0.8895 and overbought from its 10 year average at 0.8382.
EURGBP must trade only from the short side. Identified 66 year lowest of lows in GBPUSD, GBPCHF and GBPEUR yet the lows trade in extraordinary times under exceptional circumstance
                  Brian Twomey

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s