EURGBP: Short opportunity

EURGBP completed a corrective wave up from 0.8618 to 0.8822 with overlapping waves. It faced a strong rejection on the red zone that correspond to 50% Fib.Ret of the 3-rd wave down, 200 EMA and a structure zone. Price confirmed the donwside with a big bearish engulf candle that corrected more than 38.2% of the YX wave. Targets on the chart. The red projection is the extended target. The trade is invalid for price above 0.8815

Good Luck!

Comment:

EURGBP, broke down the 60 min channel. Lets see if it will continue with the donwside move.

Trade closed: target reached:

2 targets reached.