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EURGBP: Can We Expect Pullbacks?


Daily Time Frame: On the higher time frames we can see that price is reacting around .90000 key psychological resistance with signs of rejection.

 

4Hr Time Frame: Scaling down we can see price is creating a head and shoulders formation in confluence with the break of the trend line, break of the support zone and potential cross of our moving average. If price manages to stay below this newfound resistance, we can look for short term pullbacks to .89000 key support. However, if price violate this resistance and breaks above .90000, then look for potential longs to .93000. Due to uncertainty of market fluidity, risk management is highly recommended.

 

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