With it being October and all the Brexit news happening this month i thought we would take a look at EURGBP. Lately GBP has seen some strength on the back of brexit news releases, and the volatility is certainly high with this currency currently. Price on this pair has dropped down to the long term uptrend seen on the daily. Currently it sits on a strong support shelf 0.87-0.875. Its possible we could see a bear flag form here and drop through the long term up trend. If that happens over the next few days then be ready to go short on the retest of the break. If price holds this support and trend then we could see it push back up. My money is on the short after the recent strength. Obviously its news dependent so be careful with GBP, but there is some big pips to be made on this currency. Trade the winning direction and you will be rewarded
