On the EURGBP I am looking for a short entry. It has been going up a lot lately. Too much in my opinion. What this usually means is that price will retrace a a bit to regain some power.
Reasons for my short entry:
- Completed pattern (see below in comments)
- 161.8 fib extension of the recent swing (see below in comments)
- 127.2 fib extension of the recent swing (see below in comments)
- 61.8% fib retracement
- 38.2% fib retracement
Target 1: 0.7885
Target 2: 0.7765
Best of luck!
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