Flea_FX
Short

EURGBP Approaches Key Level Around .875

FX:EURGBP   Euro Fx/British Pound
16 0 2
First important note: like most I presume, longer term I am bullish this pair.

However price is approaching .875-.88 zone which has provided support & resistance at key times in the past. Stoch RSI is overbought and there is deceleration on the Daily.

A convincing high test on the Weekly or Daily at this support zone may provide a value short-term short opportunity. Given this would be a counter-trend move, I will be very patient for price action on the Weekly/Daily before committing to a position. It may end up as nothing more than a consolidation zone in a longer term move up, so no entry just for the sake of finding a possible reversal zone.
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