EURGBP More in depth short explanation

FX:EURGBP   Euro / British Pound
36 0
I posted a simple EG chart the other day calling short but I didnt really have much time to explain it. However today settled down a little bit so I thought I would come back and explain more of what I was seeing. Here are my factors.

-Price came right off the .764 of the last major decline.
-Printed bearish monthly candle
-Next candle printed also bearish monthly candle
-price retraced and printed another bearish monthly candle off the .618
-that same candle retested the bottom of the first bearish monthly candle off the .764

I assume the pound gets much stronger against the EURO long term.
That is just an assumption though, so we will just play the charts as they give us setups.

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