Looking at EURGBP we can see it has been rejecting off of strong resistance multiple times.
The market pattern we see forming is a head and shoulder. Although it has not yet been fully formed we can say that the Right shoulder has a high probability of forming given that the right shoulder is on the strong resistance line.
we also show a retracement of a nice 50-61.8 fib lvl at the resistance line! let's see if the price remains in the zone and the sell be confirmed.
Profit levels based on measuring the head and shoulder neckline and the fib -27% lvl
The market pattern we see forming is a head and shoulder. Although it has not yet been fully formed we can say that the Right shoulder has a high probability of forming given that the right shoulder is on the strong resistance line.
we also show a retracement of a nice 50-61.8 fib lvl at the resistance line! let's see if the price remains in the zone and the sell be confirmed.
Profit levels based on measuring the head and shoulder neckline and the fib -27% lvl