EURGBP has taken a pounding over the last few months, seeing bears take over the market. They are still in control, even though we are having some short term relief, looking for price to come up to the 71 % fib to see rejection to take shorts from here down to the -61.8%.
This setup is so damn simple it is unreal... yet most people wont see it as they have been taught to use all these rubbish indicators so they get blinded by the b#llshit!
People want you to feel like you don't know what you are doing in the markets so you think you need help and pay from there services, then when you do join they teach you completely the wrong...
Price is currently in consolidation ( moving sideward ) and is 40ish pips off our resistance zone, we think price will make a bullish run upto this zone and then bounce making bearish movement all the way down to our support zone.
Now we don't have an high impact news releases this week involving this pairing, but as we know around brexit anything can happen and...
Confluence of three resistance: 0.8600 is 200 DMA, trend line resistance, and 61.8fib these 3 can act as resistance
If it breaks this resistance, then in breakout territory and inverse Head & Shoulder comes into place and takes this up to 0.8800.