vj20_fx

Waiting for Price to React

Short
FX:EURGBP   Euro / British Pound
3
EURGBP has been very respectful of support and resistance lines and I do believe price will have a bullish reaction after breaking through this trendline. However I am not comfortable entering this position as we could see very strong retracements. On this pair, I will wait for price to reach 0.90300 before entering a short position. However, we could see downside momentum beginning at 0.88400 in that case I will look to enter there. For now, I will be keeping a close eye on this 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.