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EURGBP: Longs to .88500!


Weekly Time Frame: Starting on the higher time frames, we can see that price is testing .87000 a key weekly psychological support zone. Notice how a few week ago we closed off a strong rejection candlestick.

 

Daily Time Frame: Scaling down to the daily, we can see how price is respecting this weekly zone and also notice how price is ranging between .87000-.88500 key psychological.

 

4Hr Time Frame: If price manages to hold above this zone with signs of rejection for added confirmation, we can potentially look for longs back to .88500. However, if price breaks and closes below this zone, we must reevaluate price action for potential shorts. Due to uncertainty of market fluidity, risk management is highly recommended.

 

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