EUR/GBP- 4 Hour overview
Hello everybody!
-On a 4-hour chart, we can see that the price reached a resistance area, and then the price formed a very nice double top pattern.
-We can see that the price is forming bearish engulfing right now and that is a strong reversal signal.
-On a Stochastic indicator, we can see that the price is in an overbought condition so we may expect some bearish power to take control over this pair.
-On a 4-hour base, EUR is the weakest currency at this moment and GBP is in a pretty solid condition while on a 8-hour base, GBP is a little bit weaker than USD.
-If EUR remains weaker than GBP then we can expect that the price is going to continue moving in a bearish direction.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour chart, we can see that the price reached a resistance area, and then the price formed a very nice double top pattern.
-We can see that the price is forming bearish engulfing right now and that is a strong reversal signal.
-On a Stochastic indicator, we can see that the price is in an overbought condition so we may expect some bearish power to take control over this pair.
-On a 4-hour base, EUR is the weakest currency at this moment and GBP is in a pretty solid condition while on a 8-hour base, GBP is a little bit weaker than USD.
-If EUR remains weaker than GBP then we can expect that the price is going to continue moving in a bearish direction.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.