EURGBP A Chance For Possible SHORT Trade In Near Future
Observing the monthly charts closely (The image below) 4 crucial support and resistance levels can be identified and at the moment the price is rangebound between 0.90300 and 0.86600 Levels.
Looking Deeper into the Weekly chart (The image below), The price is rangebound and seems to be to respecting the 0.89400 well. This overall suggests that the price might probably be heading downward for the time being
Now Looking more deeper into the daily chart, the price is currently stuck in a larger channel in which the price has just tested its upper boundary and is seems to be heading lower to test the lower boundary of the main channel. To confirm this scenario a break of the mini channel thats forming must occur before this pair can be taken short.
The GBP Strength will most likely return see the attached link for analysis, and looking at the overall picture it might not seem to be a bad idea to take this pair short when the criteria is met
IF YOU LIKE THE ANALYSIS PLEASE GIVE ME A LIKE AND FOLLOW ME FOR MORE ANALYSIS AND TRADE SETUPS
Any potential entry would be updated on this thread should the requirements are met
Looking Deeper into the Weekly chart (The image below), The price is rangebound and seems to be to respecting the 0.89400 well. This overall suggests that the price might probably be heading downward for the time being
Now Looking more deeper into the daily chart, the price is currently stuck in a larger channel in which the price has just tested its upper boundary and is seems to be heading lower to test the lower boundary of the main channel. To confirm this scenario a break of the mini channel thats forming must occur before this pair can be taken short.
The GBP Strength will most likely return see the attached link for analysis, and looking at the overall picture it might not seem to be a bad idea to take this pair short when the criteria is met
IF YOU LIKE THE ANALYSIS PLEASE GIVE ME A LIKE AND FOLLOW ME FOR MORE ANALYSIS AND TRADE SETUPS
Any potential entry would be updated on this thread should the requirements are met
Furthermore, even if the criteria are met the risk reward ratio will be less than 1, which is not in our favour. i will look forward in the coming days if any opportunity arises