Eurgbp Bearish Reversal
Updated
The Bulls are pulling out and in are stepping the bears ready to scoop the underlying liquidity @0.85153 as the aggressive traders will try and drive the market down to around @0.84600 but since am just a moderate trader I will be eyeing my 1st tp @ 0.85153 I can see potential unmitigated orders which the big banks will also be targeting as the fuel the currency back up again but as of this week they will be more focused on mitigating those orders so am with the Bears on this one.
Trade active
still, the bears are not yet done with this pair am hoping we hit our 2nd tp Trade active
as we close the week I remain with the bears as come early next week they will try and drive the pair @0.84600 to mitigate the orders that generated the orders to the upside last week but since the price is on our 50% which I like to call fair value price I will start moving my trails as the price may reverse on this area to the upside but I will closely monitor that if we break the 50% then it means we aim for extreme discount price so bearish for the meantime Trade active
The EUR/GBP declined towards reaching 0.852 and bears threatened the 0.84600 area.
Bearish indicators signal the potential for a downside move. am still with the Bears as the Big firms institutions try and push the price to liquidate the orders that brought the upward move to begin always go back to the source that, 's how big players think and thus I will not be surprised if the Bears brought the price to my anticipated area of @ 0.84600
Trade closed: target reached
as we had early anticipated since last 2 weeks the price targeted our unmitigated zone @ 0.84600 I will have to take my profit and wait and see how the price will react since we have already mitigated most critical Order blocks so take your profit on this zone and wait till another clear picture is formed by the price to give us a clear picture.
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