Here we have an easy safe short with potentially large reward to risk ratio.
A head and shoulders formation can be seen nicely formed, with large rejection wicks in the H4 time frame, EURGBP seems to be preparin for a fall through the somewhat weakening support line @0.88808.
I see a standard fall to retest the support line, this can be a quick short scalp opportunity, following, watch for reaction to the support line, a breakout and close below it in the H1 would definitely signal a further downside towards next support level @ 0.88288 for a SHORT OPPORTUNITY.
MACD is heavy in the red, signalling a sell zone.
Best regards,
GOLD D ROGER
A head and shoulders formation can be seen nicely formed, with large rejection wicks in the H4 time frame, EURGBP seems to be preparin for a fall through the somewhat weakening support line @0.88808.
I see a standard fall to retest the support line, this can be a quick short scalp opportunity, following, watch for reaction to the support line, a breakout and close below it in the H1 would definitely signal a further downside towards next support level @ 0.88288 for a SHORT OPPORTUNITY.
MACD is heavy in the red, signalling a sell zone.
Best regards,
GOLD D ROGER
