EURGBP has posted a lower high and lower low on the daily time frame and has tested key support at 0.89. The bounce of this level was very unconvincing and has returned back to support. Technical indicators suggest the bullish price action has lost momentum and confirmed in the previous bounce that buyers are running out. We will be awaiting a break and re-test...
Waiting for price to continue the trend up to the upper line and then bounce off to break. I will sell this pair on a close below the 4h 50EMA or if there will be a break of the trend I will sell on a retest. All positions with proper risk management of course.
The price is fallinf with similar stages.
Every time it's react near Mirror Levels.
Wecan open Sell under Mirror Level 0.89036.
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I call this the Backing Boris Strategy. If Boris manages an exit on the 31st, the people will see him as the person that got things done, got the queen involved and made the bold moves. Deal or not, the closure will add certainty and business can finally adapt to the new conditions.
That and EU just announced QE -
One of the downsides of QE policy is that it...
As price reached MPO of the H&S pattern, it is now showing intraday rejection of the 200SMA on a daily chart. Looks good for a long trade. Enter on smaller time frame as we make a pullback lower.
there is a high chance to see a pullback on EURGBP.
market has recently reached a falling trendline on 4H.
for confirmation, we WAIT for a bullish breakout of the resistance of the range.
T1- 1 pip below 0.9
T2 - 0.903
if the market sets new lower low, setup will be invalid
With price making one more tap of $43.00 today I am pleased to believe that we are now enroute to our $36 mark/ monthly zone, where in which we should be seeing our next bullish price action before pushing up to
Please message me for further details or any help and blessed trading! :)