EUR/GBP is bearish below monthly resistance and offers a number of possible trading opportunities. There has to be a tossup between sitting on the sidelines or being the contrarian at reduced risk. The pound is vulnerable to Brexit risks, COVID-19 and negative interest rate sentiment. However, the technical outlook is bearish while the monthly resistance rejects rallies. Playing to the current beat, the bias is therefore to the downside, from a technical stance. This gives rise to a number of opportunities that could come of a continuation to the downside as follows: Monthly chart The monthly resistance is proving a tough nut to crack and the focus remains on the downside for the cross until it is cleared. 1D chart As it stands, there is still the daily support getting the way of what would otehrwise have been a high probability shorting opportunity. The following setup offers a 1:3 risk to reward: The above scenario could be facilitated with a trade setup at reduced risk, considering the daily support structure and bearish Brexit fundamentals for the pound. However, a break below the support structure could give rise to a ‘buy the break and sell the resistance’ setup to target the monthly Point of Control in the low 0.88 area. As can be seen, this preference offers a double trading opportunity and huge downside potential on the break to monthly demand. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Wall Street Close: Pessimism mounts and stocks don’t like it FX Street 2 years EUR/GBP is bearish below monthly resistance and offers a number of possible trading opportunities. There has to be a tossup between sitting on the sidelines or being the contrarian at reduced risk. The pound is vulnerable to Brexit risks, COVID-19 and negative interest rate sentiment. However, the technical outlook is bearish while the monthly resistance rejects rallies. Playing to the current beat, the bias is therefore to the downside, from a technical stance. This gives rise to a number of opportunities that could come of a continuation to the downside as follows: Monthly chart The monthly resistance is proving a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.