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VasilyTrader
May 4, 2021 6:11 AM

EURGBP: Very Bearish Forecast 🇪🇺🇬🇧 Short

OANDA:EURGBP1D
EUR/GBPOANDA

Description

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Hey traders,

EURGBP is trading within a wide horizontal trading range on a daily.

The price has been trading on its resistance for more than a week.
Inside bar formation was formed.
Yesterday, its range was broken to the downside.

Now I expect a bearish continuation.

Goals:
0.8607
0.85

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Support and ResistanceCandlestick AnalysisSupply and DemandForexeuroGBPEURGBP
Comments
VasilyTrader
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Are you bearish on EURGBP?
Deh-Deh
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yeah I'm 🐻 on EURGBP
VasilyTrader
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@Deh-Deh, thank you for support my friend ☺️
lmulhare
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Looking at the weekly chart, EURGBP might form a double bottom in the coming weeks before a strong bullish impulse, as happened in May 2019 & February 2020. Thanks Vasily :)
VasilyTrader
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@lmulhare, you are welcome buddy :)
davidyusaku
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That last big bearish might be a false breakout, could still be running up
But idk, I'm still learning as well 😆
davidyusaku
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@davidyusaku false breakout on the trendline from those two supports
jsobers1331
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Same here, I’m thinking it’s false too due to the inverse head and shoulders on the daily but like you I’m still learning
VasilyTrader
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@jsobers1331, thank you for comment my friend 🙏
VasilyTrader
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@davidyusaku, thank you for comment bro!
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