By: Doug Rosen
The eurgbp continues to look bearish. Price is below the ema's with ema crossovers on the daily with the exception of a small 233 ema bounce, the daily stochastics is within the trade zone heading downward.
On the 4 hour price is riding the 5 ema downward. On the hourly price just recently touched the 21 ema and is just below a trendline. I expect this pair to continue down to .8735 then a slight bounce that should be able to put you into a short position that I expect will take us down to 0.8700 without any major fight along the way.
