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EURGBP: Can it Break .91000?


Daily Time Frame: Price is testing areas of resistance with signs of wick rejection at .91000 key psychological zone. Price has reacted from this zone in the past so it will be interesting to see how it plays out this time.


Right now, we have a bounce or break situation. If sellers are more enticed to push this down, then we can anticipate shorts down to .89500 support and if it breaks that to .88500. However, if buyers are more enticed to push price higher then, we can anticipate longs to .93000. Due to the uncertainty of market fluidity, risk management is highly recommended.

 

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