We have seen a Double Top pattern come into light on the 4 hour chart of 
EURGBP. We will continue to watch this pattern and look to go SHORT on a break of the neckline at 0.88560.
Other factors
- MACD histogram is printing in the negative
- We already have a cross of the MACD (blue line) over our Signal (orange line).
- Price is already trading below the 50 SMA
- Price is in route to trade below 100 SMA & 200 SMA - this will further confirm our sentiment if this transpires
ENTRY
On a break of 0.88560 - around 0.88550
STOP LOSS
0.90260
TARGETS
0.88290
0.88060
0.87810
0.87480
Published 10/21/17
EURGBP. We will continue to watch this pattern and look to go SHORT on a break of the neckline at 0.88560.Other factors
- MACD histogram is printing in the negative
- We already have a cross of the MACD (blue line) over our Signal (orange line).
- Price is already trading below the 50 SMA
- Price is in route to trade below 100 SMA & 200 SMA - this will further confirm our sentiment if this transpires
ENTRY
On a break of 0.88560 - around 0.88550
STOP LOSS
0.90260
TARGETS
0.88290
0.88060
0.87810
0.87480
Published 10/21/17
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.