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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Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
