EUR/GBP - LOOKING FOR A DOWNSIDE BREAK
EUR/GBP DAILY
The rate is putting pressure on the 2-year-long falling trendline support. A downside break is essential for the next drop towards the potential large head and shoulders pattern neckline at 0.8300.
I am looking for a break below 0.8490 to enter a small short position to target the 0.8300 base.
A sharp rejection higher would indicate further range trading and a likely move up towards at least the last week's highs around 0.8640 and would invalidate my immediate bearish bias on the pair. -
The rate is putting pressure on the 2-year-long falling trendline support. A downside break is essential for the next drop towards the potential large head and shoulders pattern neckline at 0.8300.
I am looking for a break below 0.8490 to enter a small short position to target the 0.8300 base.
A sharp rejection higher would indicate further range trading and a likely move up towards at least the last week's highs around 0.8640 and would invalidate my immediate bearish bias on the pair. -
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.