Looking at EURGBP, we have a few confluence factors from our Top Down Analysis
From a Daily time frame - There was a previous demand zone that was respected by price action - Price looks to be in a downward trend but could be starting a corrective wave - We see a potential supply zone that could stop the corrective wave, and thus it could go into a ranging market
From a 1H time frame - We do see the supply zone being respected by price action - There is still a possibility of a reversal happening, and either the supply zone is respected or broken through
We are awaiting candlestick confirmation on reversal patterns or continuation patterns before making our trade.
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