Timonrosso

EURGBP downside due to a large M Formation

Short
OANDA:EURGBP   Euro / British Pound
M Formation has been in the making since 19 August 2022.
The price then broke below the neckline, restested and is now showing a ton of downside to come.
We have other indicators showing bearishness.
200>21>7 (bearish)
RSI<50 (Lower highs)
Target -0.8200

SMC
(Buy Side Liquidity Order Block is clearly shown (green box)

Smart Money sells into positions (and sweeps liquidity) from traders who are short (get stopped) and for long traders who buy and enter into their trades.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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