From TradingView · · 40s
EUR/GBP Breakdown
Bearish trap for EUR/GBP as institutions face heavy shorting.
In brief
Bearish trap for EUR/GBP as institutions face heavy shorting. EUR/GBP is falling as big banks push down against trapped euro longs. Originally reported by TradingView.
The Trap
The Euro vs. British Pound has been grinding lower with a major technical breakdown underway.
COT Data
Big Banks are overwhelmingly net long British Pound while asset managers hold massive euro longs.
Technical Setup
Price shattered structural support zones and is hovering near 0.8385 with a liquidity void below.
Trade Plan
Short EUR/GBP on pullbacks as big banks drive price down against trapped euro longs.
The big picture
EUR/GBP is falling as big banks push down against trapped euro longs.
