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Tickmill
Jan 5, 2018 7:41 AM

EURGBP approaching channel resistance, keep an eye out on this! Short

Euro Fx/British PoundFXCM

Description

EURGBP is approaching major channel resistance at 0.8972 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, channel resistance) and a strong reaction could occur at this level to push price down to at least 0.8842 support (Fibonacci retracement, horizontal overlap support). Our next major level of resistance is at 0.9027 (major swing high resistance).

Stochastic (34,5,3) is seeing major resistance below 98% and a corresponding reaction could occur at this level.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
Comments
mryoung


Exactly what I had in mind :)
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