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rjdyerz

EURGBP ABC Pullback to contine Selling

Short
Euro / British Pound (FX:EURGBP)  
rjdyerz Updated   
FX:EURGBP   Euro / British Pound
eurgbpshort EURGBP technicalalysis shortterm
3
0
eurgbpshort eurgbp technicalalysis shortterm
EURGBP is creating a POLE sideways pattern to find sellers closer to the trend line. Wait for a trend line reversal signal to continue selling to 0.8428.

Remember, smart money buys at the top!

This is based on purely technical analysis.
Comment:
Price has retraced to the square up at .8562.

This square up has produced a .786 pullback so I'm now looking for a short continuation to the original target for target 1 and target 2 is .8364.

EG ATR is only 76 pips so we'll see if we can make it to target 1 this week.
Comment:
If the POLE sideways pattern looks to complete outside of the trend line we are looking for a buy to 0.8590 today.
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