GE GE WP
1. BALANCE remains BEARISH
2. TARGETS Below ( today and tomorrow full day of news, good time to gather some stoplosses)
3. London is on fire
Easy Trade, set your limit orders and forget about the trade
EURGBP is approaching horizontal resistance at 0.8675-0.8700. Besides, the 100D EMA at 0.8678 can also prove to be a strong hurdle.
So, traders can look for SELL at 0.8670-0.8710 with SL above 0.8740.
TPs can be set at 0.8500.
Watch for a potential correction and long opportunity off the 200 MA on 4 hr to break high of "A" potentially extending up into the zone (but not in a straight line of course). Refer to my daily swing pattern, as the short is my main idea...
EG created a 7 swing sequence which I would expect it hit equal length to the 1.236 trend fib extension zone. It is currently on a "C" wave of a flat pattern. The "C" wave can continue extending up to 50-62%, but expect another nice short to complete the sequence. Await a sell setup on lower time frame (such as completed 5 wave/ending diagonal).