EURGBP Continued where it stopped last week
and has been dropping. expecting a reversal soon
before we continue the drop
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I REALLY HOPE YOU GUYS CAUGHT SOME OF THE DROP. I MUST SAY IT HIT TAKE PROFFIT AROUND 70% OF THE DROP BUT ITS ALL GOOD. WE CANT HAVE IT ALL :)
EURGBP DROPPED A LOT MORE THAN I EXPECTED
NOW I AM EXPECTING SOME CONSOLIDATION.
THIS SHOULD REVERSE TO SOME RESISTANCE
BEFORE CONTINUATION DOWN
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EUGPB situated into ascending channel which will breakdown,i m sure about this becouse we have a classic bearish setup:
MACD touched neutral zone(0) and now going down,buy volume also going down which is another sign of bearish
RSI overbought and bearish cross CONFIRMED
RSI dropping,below 50 will be bearish
Targets for this short: 0.885 , 0.883, 0.881 and 0.880
ENJOY
EURGBP IS LOOKING GOOD FOR A SELL
GOOD RISK 2 REWARD ALSO
HOPE A FEW OF YOU GOT THAT DROP I SENT OUT
See previous analysis
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EURGBP is in a definite downtrend. It has entered a SELL zone, meaning the end of correction. Assuming GBPUSD got hit less than EURUSD it makes a good sense to SELL EURGBP.
However, keep in mind that this pair is highly sensitive to BREXIT deal news. That might be the reason for technical analysis not to work. So, you might consider TP earlier in case of any...
EURGBP has retraced to Fibonacci retracement
level of 0.382 as previously surmised.
Also Stoch RSI is going into overbought territory.
Be ready to jump in for a sell if you are not in already
See previous analysis
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