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EURGBP: Next up .93000!


Weekly Time Frame: Start on the higher time frame notice the reaction price had when it tested .87000 key psychological support. A few weeks ago, we closed off a pinbar rejection and last week we managed to close off a bullish engulfing candle which engulfed more than six days of price action.

 

Daily Time Frame: Scaling down to the daily we can see we have another bullish engulfing candle. If price manages to pullback to test .88500 daily psychological support than look to buy this up to .90000 and then .93000. However, if price manages to break back in range then we must reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.

 

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