vj20_fx

Possible Bearish Momentum Forming

Short
FX:EURGBP   Euro / British Pound
5
Price has just made a LH from the Bearish trend where price bounced off the trendline to the pip. This pair has now formed a Doji following a very strong bullish movement which is showing indecision and the momentum weakening. A reversal here is high likely. The W1 TF formed a 'Hanging Man' Candlestick last week indicating bearish momentum could be following. Price is also sitting on a major H4 resistance line giving stronger confirmation of possible downwards movement.

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.