LONG POSITION

EUR/GBP 6HOURS PRICE CHART


EUR/GBP FOR GBP-STRENGTH: EUR/GBP had traded heavy, with a fresh yearly low printing in late-October. On the 04/11/21
GBP weakness, however, has allowed the pair to jump up to a fresh monthly high, finding resistance at a Fibonacci level plotted at .8556.
That resistance would need to hold through to keep the door open for bearish swing scenarios, but if it doesn’t, there’s another spot a bit-higher on the chart that could retain similar interest, plotted around the current five-month-highs in the .8658-.8670 area on the chart.

Some retracement back into (0.84910 ) where we can see strong buyers Point of interest, if we see price break below there's a possibility price would continue and give us new lows for this year.






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