euro daily double top, page-21

I got the same position this morning, undeniable downtrend on the day chart.

Price has continued to test the 200 day SMA. A breakout this week is highly probable with the catalyst possibly being the BOE rate decision. I expect rates to be held at 0.5% however as the euro zone worsens and the British economy faces starts to face the contractionary implications of fiscal austerity any comments about additional QE via asset purchases (currently 200B) or negative comments from the BOE members will be the catalyst for GBP selling.