Market Analysis: EURGBP closed with +169pips

The EURGBP hits a 3-year resistance with a rising wedge formation, coupled by the multiple bearish divergence on the indicator. Shorted as the price made a lower high al the way down to the first support level. Closed with a +169pip profits.

Market Analysis: GBPJPY – Bearish Butterfly Pattern

GBP has been on the downtrend for the past 5-6months. However, the latest economic numbers (Average Earning Index, CPI and Retail Sales) came in better than expected to arrest this weakness in the GBP. GBPJPY managed to bounced off the 127.00 lows to close the week at 129.18.