EUR/GBP (8th September 2017).

OANDA:EURGBP   Euro / British Pound
35 0
This pair has been on an uptrend since mid april-may from the 0.893000 region which is a strong weekly support.

It has respected an ascending trendline that I drew twice. I'm expecting it to return to this trend line once again. Wether it will break or bounce from this time will tell.

However, for now I can see some potential shorting opportunites.

Here is a break down of confluences that I can see:

1. Ascending trendline (bounce or break). = 1

2. Descening trendline respected by multiple pin bars. = 2

3. MA's respected by previous pin bar , waiting for daily close for extra confirmation. = 3

4. Fib level aligned nicely. The 38.2% will most likely be hit so initial TP's will be there. But I'll monitor the progress of this pair next week.


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