EURGBP:More Selling Is Indicated Next-week. Long positions soon.
Updated
https://www.tradingview.com/x/ELhEe9DK/
An easy trend following Short of EURGBP, forget the complexities of for-example trading Gold, this one was 'in the bag' as a Short all week. Just pull up a 4 hour chart and it looks so easy!
Further Short-selling I think next week of EURGBP but if you take a look at the monthly-chart below you will see where the 200EMA-Monthly has supported price previously and lots of historical buying from Order-blocks from 0.8250 to 0.8316.
So a Short from current price 0.8377 should work well but I think buying accumulation from 0.8316 - 0.8250 and I think before long EURGBP which is severely oversold even on a weekly & monthly-timeframe, will get a bounce in price - but for how long?
Sellers could move back-in very quickly if the EUR does not bounce back with strength - Sellers would next time Short the EUR through and south of the monthly 200EMA.
An easy trend following Short of EURGBP, forget the complexities of for-example trading Gold, this one was 'in the bag' as a Short all week. Just pull up a 4 hour chart and it looks so easy!
Further Short-selling I think next week of EURGBP but if you take a look at the monthly-chart below you will see where the 200EMA-Monthly has supported price previously and lots of historical buying from Order-blocks from 0.8250 to 0.8316.
So a Short from current price 0.8377 should work well but I think buying accumulation from 0.8316 - 0.8250 and I think before long EURGBP which is severely oversold even on a weekly & monthly-timeframe, will get a bounce in price - but for how long?
Sellers could move back-in very quickly if the EUR does not bounce back with strength - Sellers would next time Short the EUR through and south of the monthly 200EMA.
Trade active
This trade is for another EUR pair...... EUR NZD.
It's a headnshoulders pattern bullish to keep an eye out for on multiple intraday timeframes.
Note
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