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EURGBP technical analysis, potential short opportunity

EURGBP Tech analysis by Simon Kazinsky on 11:24 November 17, 2014 EST

After a week of GBP weakness, EURGBP appears to be giving way again just after approaching the descending trendline of the downward channel it is in.

The long term trend is down for this pair, but retail traders appear at this hour short, which is not comfortable if you are a short side trader for this pair.