Support broken to the downside. Bears in control.

FX:EURGBP   Euro / British Pound
141 2 3
Hey Traders,

Simple analysis, after a third wave higher price became overextended and now needs some pause before deciding whether to head higher or head lower and break support at 0.8600

Clearly bears are in control at the moment. The trade I'll be looking to play is a retracement to the broken support on the hourly / 4hr chart before entering short with a 2R target.

Happy Trading.

Trade closed: target reached: Entire position closed. Cheers to whoever else was in this trade also.
In fact, I am also following this chart since the day it broke the weekly trendline. Hope a reversal will fill our pockets with $$$$$$$ :P
Daniel.B Dinkan
Hehe same here! Yes, hopefully all turns out well and it rewards us with more profits! =)
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