We're up against some major resistance levels on daily chart. Look out for the break above and close above to BUY up to 0.86130. In case of reversal potential SELL down to 0.80000 levels
I have already posted the 4h chart for this pair but it even looks better on weekly trade for all you long term traders.
we are looking at a lot of potential pips here, its a great moment now to catch the falling knife.
- Trendline broken
- RSI starting to head south
- take a look at that beautiful MACD formation too.
shorting once again after a successful short on this pair earlier.
- Broken trendline in 4hr time frame
- Already partially retraced, ready to be sold.
-RSI heading down
- MACD cross over
- Great R:R
EURGBP is about to brake the channel with a confirmation from RSI and MACD with a great R:R ratio.
I will be shorting this after draghi's speech if the channel remains broken.
EUR/GBP ( DAILY )
RECOMMENDATION: BUY
SUMMARY:
The secondary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its daily chart. In daily chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7900 and support at the...
The primary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7665 and support at the level of 0.7525. If it breaks its resistance...
This is the corrective structure of a weekly impulsive down move. If this breaks up with a motive wave we might be in for a very long bullish trend. If it breaks to the down, it means the correction is still in progress and could go down to the 127% or even 161.8% (overlapping the monthly 76.4%) marked on the chart.
All this is happening around the 61.8% fib...
