My projected target zone for EURGBP was 0.975-0.80 as posted in previous analyses.
However price is finding resistance and I expect either a new impulse lower breaking below 0.6935 (previous low on daily time frame) or at least a three wave correction with wave C in progress.
Therefore I like to see a bearish break followed by a consolidation on lower time frames.
timstuyts.com
facebook/timstuyts/
However price is finding resistance and I expect either a new impulse lower breaking below 0.6935 (previous low on daily time frame) or at least a three wave correction with wave C in progress.
Therefore I like to see a bearish break followed by a consolidation on lower time frames.
timstuyts.com
facebook/timstuyts/
Trade active
We saw a consolidation on lower time frames, (I used 1 hr time frame). However I believe this bearish move is part of only 1 wave and there should be a more significant correction follow once this wave is over. Then I expect a third leg lower. But we see strong corrections across the market so I'll place stop at break even and see whether I'll stay in the short until we see a break below 0.765.Note
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.