EURGBP Break And Retest | Two Scenario's
EURGBP is trading within a large range on the higher timeframes and is currently trading within smaller ranges on the lower timeframes.
This is EURGBP on the daily
Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in future.
Price on the 1H chart has been testing the strong .9000 resistance level.
Currently price has strongly rejected this .9000 resistance with a bearish pinbar and strong bearish momentum afterwards.
We have marked two scenario's on the chart, and currently it looks like the bearish scenario is playing out.
Follow us for more free analysis.
This is EURGBP on the daily
Earlier this year price strongly rejected higher prices at the top of the higher time frame range, so we can expect price may fall to the bottom of the range in future.
Price on the 1H chart has been testing the strong .9000 resistance level.
Currently price has strongly rejected this .9000 resistance with a bearish pinbar and strong bearish momentum afterwards.
We have marked two scenario's on the chart, and currently it looks like the bearish scenario is playing out.
Follow us for more free analysis.
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