After a long Bullish moves, the uprise has stalled and slowed down. Price has start to create a Lower High and tried to break the Support (magenta zone) yesterday.
However, be cautious as the price can still go upwards. We merely trade WHAT WE SEE, but the market forces is beyond anyone's control.
EUR must weaken or GBP must strengthen in order for EURGBP to...
Reposted! as this idea was hidden by one of the tradingview moderators due to violation of tradingview guidelines (using all 'Capitals' in description) by us which we deeply regret
Analysis team sold EURGBP at 0.89050 with the long term target 0.87200
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.
This setup is so damn simple it is unreal... yet most people wont see it as they have been taught to use all these rubbish indicators so they get blinded by the b#llshit!
People want you to feel like you don't know what you are doing in the markets so you think you need help and pay from there services, then when you do join they teach you completely the wrong...
Bears are putting their last line of defence at the resistance level at 0.8845.
If the resistance level holds, a decline will occur in the short-term.
Meanwhile, the EUR/GBP currency pair is trading in a narrow ascending channel and expects a breakout.
Good luck guys!
EURGBP bounced off its support at 0.88812 where it could potentially rise further to its 0.89817.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Price on the weekly chart is overall in a downtrend making lower highs and lower lows and where price at right now is expected to be a lower high.
There is a divergence as well, lower high higher high which are my favorites because RSI is in our favor compared to the hidden divergences.
It's at the top of the bollinger band and made a doji for last weeks candle...
Here we have 2 key zones marked out that have been used as strong support and resistance before and WILL be used again.
What we might see here is a slight pullback in price to our lower zone after days of bullish movement before a final push higher to our upper resistance zone.
I'm currently watching Tyson Fury fight, he is going to smash Schwarz... just like me...