FX_IDC:EURGBP EURO / POUND STERLING
It really looks like a mess of and structural levels, but I personally think there are lots of opportunities here.
- Patterns: 2 Bats + 1
- 3 Structural Levels (Green & Blue Zones)
- Fib Clusters found at completion of
- Fib Cluster 1 is found at the completion (Blue) where the 1.272 extension of the Swing High-Low of the XA leg of the (Orange) matches with the 1.618 extension of the XA leg of the (Purple)
- Fib Cluster 2 is found at the (Orange) completion: 1.414 BC extension of the pattern matches with the 0.618 XA retracement of the larger (Blue) .
- All Fib clusters are found in agreement with the Structural Zones.
- Easier to see on the 4 hour timeframe, but the red structural zone is one that has been respected several times making it a major structural level.
- Price Action continues up to make HHs and HLs up to the Orange completion at 0.714.
- Price action then could drop to retest the B point that matches structure and the 0.382 Target.
- Price action could then reverse to make HHs and HLs up to the and completion.
- I would then look for targets being the 0.382 and 0.618 CD retracements.