top of page

EURGBP: Break or Bounce?


4hr Timeframe: Reading price we can see EURGBP is still creating higher lows. Although we can see strong shifts in momentum to the downside. A price approached .90000 key psychological support price could not break and close below for the 3rd or 4th time. Notice price created a double bottom and had a reaction. Price broke our first counter trend line and is hovering around our second trend line. If price holds above our blue support zone, we can anticipate further movement to the upside. However, if we fail to hold, we can anticipate shorts down to .90000 key psych. Due to the uncertainty of market fluidity, risk management is highly recommended.

9 views0 comments

Recent Posts

See All

Comments


bottom of page