Euro / British PoundShort
EURGBP - Short (Head & Shoulders Developing)
We have multiple confluences for potential short trade on this pair.
Confluences are:
4 Hour Shooting Star rejection of 4 hour 50EMA, counter trend line, market structure (0.9190) which aligns perfectly with the 61.8%.
PLUS, we have a head & shoulders candlestick pattern developing at the top of structure which have proven highly successful across other EUR pairs recently.
Duplication of the H&S pattern takes us down to 0.8900
Confluences are:
4 Hour Shooting Star rejection of 4 hour 50EMA, counter trend line, market structure (0.9190) which aligns perfectly with the 61.8%.
PLUS, we have a head & shoulders candlestick pattern developing at the top of structure which have proven highly successful across other EUR pairs recently.
Duplication of the H&S pattern takes us down to 0.8900
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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.