justatrader

EURGBP - Consolidating for a break out

FX:EURGBP   Euro Fx/British Pound
131 0 4
Price could break out either way.. To the upside the minimum target is 0.800 and to the downside we're looking at 0.7925. Considering that the consolidation is coming in after a few bearish bars, my bias is to the downside. Both the break out targets however seem to show confluence with a short term support/resistance levels.

Considering that the minimum targets are close, we could expect a retest back to the break out zone which should offer a good/safer entry.

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Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
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