EURGBP Short
EG analysis
*formation of symmetrical triangle with a bearish bias
*price found resistance at the July 2023 high at the Orderblock (0.87026 - 0.86876)
*candlesticks indicating bearish momentum since 11/8/23
*on 15/8/23 price broke the bullish trend line from 12/7/23
NB/ price is currently in oversold territory (I.e., 30 on the RSI). Wait for correction and retest of the 12/7/23 trendline
EURX analysis
*on 15/8/23 MA’s (200 & 50) formed the “Golden Cross” I.e., bullish signal
*on 15/8/23 price formed a Fair Value Gap (FVG) to the upside, highlighting increased bullish pressure and momentum
*since 11/8/23 price I has been ranging between resistance at 1046.9 and support at 1042.9
*candlesticks indicating bullish momentum since 28/7/23 with the formation of higher highs & lows
*formation of symmetrical triangle with a bearish bias
*price found resistance at the July 2023 high at the Orderblock (0.87026 - 0.86876)
*candlesticks indicating bearish momentum since 11/8/23
*on 15/8/23 price broke the bullish trend line from 12/7/23
NB/ price is currently in oversold territory (I.e., 30 on the RSI). Wait for correction and retest of the 12/7/23 trendline
EURX analysis
*on 15/8/23 MA’s (200 & 50) formed the “Golden Cross” I.e., bullish signal
*on 15/8/23 price formed a Fair Value Gap (FVG) to the upside, highlighting increased bullish pressure and momentum
*since 11/8/23 price I has been ranging between resistance at 1046.9 and support at 1042.9
*candlesticks indicating bullish momentum since 28/7/23 with the formation of higher highs & lows
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