vj20_fx

Possible Bearish Momentum Forming

Short
FX:EURGBP   Euro / British Pound
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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.