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vj20_fx
Jul 30, 2017 8:42 PM

Tweezer Top on Resistance level  Short

Euro Fx/British PoundFXCM

Description

EURGBP failed to break the strong resistance level for the past two weeks. Last week we had indecisive price action with 4 doji’s forming. Even though these candlesticks show a lot of price action throughout the day, all managed to close below 0.89500 resistance level. I believe we have bearish momentum coming next week to at least 0.88600.
Heading back to basics, we have seen a ‘tweezer top’ candlestick pattern form after a bullish rally. This formed on the resistance line for more confluence telling us it failed to keep up the momentum.
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