theforexportal

Maribuzo weekly candle suggests more downside to come on EURGBP

Short
FX:EURGBP   Euro / British Pound
More downside expected on EURGBP as last weeks candle was a BEARISH Maribuzo. With the H4 200 sma and the DTF 200 both together, it would take something quite remarkable for the BULLS to defeat this level (.8622) and the path of leat resistance is clearly down. Oversold on H1 means we cannot rule out a bounce from these levels but any pullbacks are an opportunity to SHORT.