vj20_fx

Trendline bounce

Short
FX:EURGBP   Euro / British Pound
This pair has been in a strong down trend creating perfectly made lower lows and higher lows. I believe price will carrying on reacting to this trend by bouncing off the trend line continuing down to make yet another lower low. I have put my SL just above weekly resistance in case price breaks through trend, it may reverse of that major resistance line. I have put my TP just above .382 fib support as I believe price will create the next lower low at a price that has created a lower high in recent history (2/3/2017)

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