Euro / British PoundShort
EUR GBP Short briefly, then flip position to go long
EURGBPDefinitely a clear head & shoulder pattern. We do have a clear & solid support uptrend line.
Typically in this situation, we will see it fall for sure, which we can confirm with the downtrend showing in the RSI, but with such a solid support trend, I expect the price to fall to the lower price support zone, consolidate a short time round the 0.8318 mark, then shoot right back to the trend line to continue upwards.
MACD, TSI, & RSI all indicate bearish momentum across the 5 minute to 4 hour time frame. Market is closed so we may see some fast action on market open.
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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.