Hi Guys,
Here we have the EURGBP on the Daily Chart. Another tricky one to call. No clear harmonics forming and with fundamentals affecting these two dramatically recently I've been keeping my distance.
There is quite a bit of detail on the chart and below are key points to note:
* Respected Annual Downtrend
* Currently reaching a weekly resistance level
* Broken 0.50 of last down swing
* Daily is showing an uptrend which is looking like it's about to break - previously done this twice and plummeted
* Four Hour showing a downtrend and being respected
* 1:2 Risk to Reward
I will be watching tomorrows candle closely and looking for a short of a potential 390 pips.
Do let me know of any questions.
Thank You!
Victoria
Here we have the EURGBP on the Daily Chart. Another tricky one to call. No clear harmonics forming and with fundamentals affecting these two dramatically recently I've been keeping my distance.
There is quite a bit of detail on the chart and below are key points to note:
* Respected Annual Downtrend
* Currently reaching a weekly resistance level
* Broken 0.50 of last down swing
* Daily is showing an uptrend which is looking like it's about to break - previously done this twice and plummeted
* Four Hour showing a downtrend and being respected
* 1:2 Risk to Reward
I will be watching tomorrows candle closely and looking for a short of a potential 390 pips.
Do let me know of any questions.
Thank You!
Victoria