thedailychartist

EURGBP Possible Sell Opportunity Next Week?

Short
FX:EURGBP   Euro / British Pound
Today we see a price channel breakout for this pair after consistently seeing it respect the channel's lower trend line support since APR-2018's swing low. Price is now retracing after the strong breakout and a retest of the trend line is now anticipated. This bearish outlook is supported by a confluence of the trend line and the identified horizontal resistance levels around the 0.8970 - 0.8990-ish price region (marked by a box in the chart). It will be interesting to see how the market reacts here. Let's see if the market gives us a viable sell setup if and when it gets there.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.