YGForex

No Direction From EURGBP yet BUT for now...

Short
FX:EURGBP   Euro / British Pound
As mentioned from the title, I do not see any clear direction from EURGBP yet. However, I see a short opportunity from EURGBP as of now till 38.2 fib to 50.0 fib level area. (Red area) Initially, that area is of strong resistance level but price broken out of that level and now a retest of this zone is possible. I believe price level will fall slightly till the previous strong resistance level (now a strong support level ). As for whether it is a fakeout, we would have to observe future price action. Therefore, what we can do now for EURGBP is just a short term sell opportunity with uncertainty ahead of us.

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Comments

Very good set up! Upvoted
+1 Reply
YGForex plancton0618
@plancton0618, Thanks :)
Reply
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