EUR/GBP has me looking for a potential short entry! After a non convincing bullish run, it looks like the bulls have ran out of steam and the bears may come into play. Price, at the end of last week, closed with a strong bearish engulfing with my bias supported with a strong supporting technical strength score of -7.
Across the hourly and 4 hour chart, a bearish trend has began to form with the SMA's (green and red) looking to potential cross to the downside. However, price has not offered any entry points as of yet, I will need to witness a valid hourly retracment confirmed with a bearish hourly candlestick rejection to enter short with my sights set on the 0.89351 level.