Hello everyone. EURGBP has been down for the past few days and violated the control low.
However, if it continues going down, I'll be interested in potential reversal bullish trade as below:
1. On the daily, the previous low might serve as a reversal zone. Set an alert and wait for the price action.
2. On the weekly, the zone of 0.8279-0.8371 looks pretty solid. price is likely to bounce back if the previous daily zone got penetrated. I'll watch how it move on 4H then.
What do you think? Give me a like if you're with me.
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A bit choppy above the zone.
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Zone got touched. I'm waiting for the bullish signal. Now it's still downtrend on 60m
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Below is the 4H chart, we can see some signs of reversal.
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Finally it failed to terminate the downtrend line.