EURGBP is getting closer to PRZ, RSI oversold, the level is a good resistance area and i am expecting a rejection from here. Looking for bearish evidence to short!
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A little sign of indecision on 4H candle now. Keep watching it closely from here.
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Still looking bullish, we just have some divergence right now and that is not enough for reversal yet.
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Now we have a nice rejection guys!
Trade active
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I may was too early but so far so good :)
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Lets see if it will break the weekly PP.
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As expected the weekly R2 is respected for now
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Now that is a nice rejection on daily! A lower close would wonderful for more down move here.
Thanks for your great analysis!
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale