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EUR/GBP Trades Inside A Triangle, Sharp Decline Is Expected

Published 06/22/2015, 04:48 AM

The EUR/USD was up earlier today at 1.40 but now again 70 pips lower on unclear situations regarding the Greece deal. As I said in our chat room today, on the long-run there is nothing positive for Greece, only temporary, so I think that even if “deal” or “no-deal” the EUR/USD will turn down as well as other EUR-crosses; probably during summer when a lot-of investors will be away with assumption that markets will be slow. Keep in mind that markets always surprise when least expected!

Our full focus in day ahead will be on EUR/GBP as we see big triangle taking place, so sharp decline will be expected after wave E).
Elliott Wave Analysis - EURGBP daily
EUR/GBP Daily Chart

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