EURGBP: Retracement Movement Occurring... High Resistance Zone!!
Looking at EURGBP, I will be expecting a BEARISH movement occurring soon from this area. Previously, we managed to see several rejections off the resistance zone (red area). Looking at 2 diff fib level, we can see that the first retracement will be to the 0.5 fib level while the other shows a potential 1.68 fib retracement. There is also an area of support at that level. Therefore, if BULLs continue i will see a minimal retracement till the level before further bullish movement. If BEARISH continues, it could be a good R:R trade.
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