EURGBP Hi everyone. Look for shorts. Here is my outlook on price action. 4HR/Daily/W is bearish with LH and LL. Last week ended on the Daily with a massive star doji under major support lvl. Price definitely formed a H&S pattern and the neckline was broken on 4HR and Daily. Neckline was a very reliable support zone with over 20 touches. So to have this price lvl broken is a huge sign that bears are in control. As you can see we also have a bear flag that has formed which is another sign price might continue to fall. I will be looking to short for a 3R profit down to the next major support zone of .83500 once we have break of the bear flag. Please keep in mind that news is looking ok for EUR so price good definitely push back above the support zone later in the week. Have a good week in trading everyone. Remember trading always carries risk. https://www.tradingview.com/x/G9vj8STX/
Trade closed manually
Right now price seems to have respected the .8500 LVL. I would look for longs to price LVL .85300 and see what happens with price action whether momentum remains bullish or bearish trends resumes.Trade closed: target reached
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I post weekly on macro drivers, capital flows, technical structure and the key forces shaping today’s financial markets, from FX to equities and everything in between in my community. Check the website!
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.