Whipsaw in trading describes a sharp increase or decrease in an asset’s price, which goes against the prevailing trend. Whipsaw is different to other reversals because it is characterized by a sudden change in an asset’s momentum shortly after a trader has opened their position.
Today: EURGBP fell to its low after weak EZ flash PMIsand then turned bid after the BOE monetary policy decision
This is a whipsaw
Meanwhile, the chart does not show the key level on top, which is at .8576 (high so far .8573)