EUR/GBP - Breakdown of structure
Updated
The same pattern is visible on all GBP-crosses this morning. Strong counter trend impulsive move closing below/above swing high/low, indicating the counter trend players have had enough and want to see a stronger pound.
If this structure holds and we see a pullback towards the short-term corrective structure top I am looking to go short around 0.89930, targeting 0.89700 primarily and thereafter the incoming support zone around 0.89150-0.89320.
If this structure holds and we see a pullback towards the short-term corrective structure top I am looking to go short around 0.89930, targeting 0.89700 primarily and thereafter the incoming support zone around 0.89150-0.89320.
Trade closed: stop reached
Structure did not hold.
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