EURGBP is a big ranging pair and it is still in range on the monthy timeframe and on the daily timeframe for almost 2 months now. The range came after a bearish trend so it is preferable to look for shorts rather than longs.
Price was testing a big resistance and is now showing some changes in the market structure. The price failed to break above, twice. We could call a double top pattern but it isnt big enough to have a significant impact on the price. Then price consolidated and broke the support, the next target could be the bottom of the range
No particular fundamental divergences on this pair, that why it's ranging
Price was testing a big resistance and is now showing some changes in the market structure. The price failed to break above, twice. We could call a double top pattern but it isnt big enough to have a significant impact on the price. Then price consolidated and broke the support, the next target could be the bottom of the range
No particular fundamental divergences on this pair, that why it's ranging