# EURGBP Double Bottom (Feb 06, 2017) Source: https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/ Language: en Updated: 2017-02-06 Description: Explore EURGBP Double Bottom (Feb 06, 2017). EURGBP seems to be. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURGBP seems to be tired from its dive as the pair failed in its last two attempts to break below the .8500 level. Price has now completed a double bottom formation and is testing the neckline at .8650. A break above this resistance could send price up by 150 pips or the same height as the chart formation. The 100 SMA just crossed above the longer-term 200 SMA to signal that the path of least resistance is to the upside. A pullback could last until the moving averages, which might hold as dynamic support around the .8550 minor psychological level. Stochastic is turning lower to suggest that sellers are taking control of price action. Stronger bearish pressure could take EURGBP back down to the bottoms at .8500 for another test of support or perhaps a breakdown. Economic data from the euro zone came in mostly in line with expectations last week when it came to PMI readings but the headline flash CPI estimate turned out stronger than expected. Meanwhile, PMI readings from the UK fell short, signaling that the economy may be starting to feel Brexit jitters. German factory orders and euro zone retail PMI figures are due today. The former is expected to show a 0.6% rebound from the earlier 2.5% slide while the latter could improve from 50.4. There are no major reports due from the UK today. ![EURGBP Double Bottom (Feb 06, 2017)] Several medium-tier reports such as French industrial production and German trade balance are lined up from the euro zone for the rest of the week. UK manufacturing and industrial production numbers are scheduled for release on Friday and weak readings could spur more losses for the pound. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/", "headline": "EURGBP Double Bottom (Feb 06, 2017)", "inLanguage": "en", "datePublished": "2017-02-06T09:05:54+00:00", "dateModified": "2017-02-06T09:05:54+00:00", "articleSection": "Market Info", "description": "Explore EURGBP Double Bottom (Feb 06, 2017). EURGBP seems to be. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURGBP Double Bottom (Feb 06, 2017)", "item": "https://www.tradersway.com/resources/market-info/eurgbp-double-bottom-feb-06-2017/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```