Add this on to your watchlist.
Are we going to see the trendline hold. I am more biased to setup A as we have higher amounts of rejection from the Fib zone, we are not testing to break the lows from the sideways move.
I would like to see the pair shift direction to the downside as the GBP grows in strength.
Once the pair gives us a valid trade entry I will...
GBP is strengthening across the board this bank holiday Monday and GBPUSD LONG is looking good (i've already analysed this) and EURGBP looks a standout SHORT trade.
My specialist indicator is strongly suggesting a SHORT/SELL trade on this pair with S1 resistance below which will be a target for BEARS. I think this level may go so I'm targeting .8640.
I'm in at...
FX_IDC:EURGBP
I am trading on a small account, documenting my progress. This is not intended to be a signal!
Continuous Downtrend on D1
Retest of daily resistance of 0.382 fib level. Sellers took control, price has broke through minor H4 support, expecting further downside movement to H4 extended fib level 1.618 and our daily major support zone.
Sell at CMP...
