The probability of EURGBP seems at the bearish market for this week. There are number of reasons below:
- The market is respecting downtrend - Pin bar at resistant areas on 5 December 2017 and on 12 December 2017, the market reverses back to Fibonacci Retracement 61.8% of the pin bar. - Pin bar is below EMA 21 and 50, the EMA 50 is crossing over EMA 21.