On 4 February, quotes of the EURGBP currency pair again crossed the upper Bollinger band predicting a speedy downward reversal along with the AD indicator recommending sales.
On the same day, the Eurozone Retail Sales decreased by 4% and the macroeconomic background filter began to show 9 of 14 assessments for the pair’s sell (3 EU indicators and 6 UK indicators):
Having indicated in a research, the signal’s profitability of technical analysis “Bollinger bands reversal” supported by the macroeconomic background filter is above the profitability of a “clear” technical signal.
Thus, there is a good opportunity to make money off a decline of the EURGBP currency pair.
A target level can be 0.828.
Another option of the exit can be independently fixating a position on the Close of trading on 25 February (at the end of the 15th trading day starting from 7 February).
This content is for informational purposes only and is not intended to be investing advice.
