Candlestick Analysis

FX:EURGBP   Euro / British Pound

The last 3 weeks have been interesting for EURGBP . Price formed 2 pin bars with a bullish engulfing candle in between. This shows us the selling pressure was coming however bulls tried to take over. Bulls failed to even break resistance at first and they tried again last week but the bears came in even stronger this time closing the candle below the last open. We are now waiting for a solid break of support level for a 290-pip short position


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