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glennmercer

Short EURGBP: Bearish Crab at TL Resistance

Short
Euro / British Pound (FX:EURGBP)  
glennmercer Updated   
FX:EURGBP   Euro / British Pound
Crab Bearish Crab Trend Lines Support and Resistance PRZ confluence Moving Average Convergence / Divergence (MACD) macdivergence rsi_divergence Relative Strength Index (RSI)
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crabpattern bearishcrab trendline supportandresistance prz confluence macd macdivergence rsi_divergence relativestrengthindex
EURGBP has entered the PRZ of a bearish crab. Long-term trendline resistance may add to the probability of reversal in this area. MACD has printed bearish divergence as well as RSI being overbought to add to bearish bias. Entry is placed at 1.618XA with SL at 1.786XA and target at .382CD.

Bearish Confluence:
  • Bearish Crab
  • Long-term trendline resistance
  • 4AB=CD
  • 5BC Projection
  • Bearish MACD Divergence
  • RSI Overbought
  • 1.272 structure projection
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