EURGBP - H4 Double Top

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
Chart PatternsDouble Top or BottomTrend Analysis

Also on:

Disclaimer