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Euro / British Pound
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Short EURGBP: Bearish Crab at TL Resistance

By glennmercer
Updated
EURGBP has entered the PRZ of a bearish crab. Long-term trendline resistance may add to the probability of reversal in this area. MACD has printed bearish divergence as well as RSI being overbought to add to bearish bias. Entry is placed at 1.618XA with SL at 1.786XA and target at .382CD.

Bearish Confluence:
  • Bearish Crab
  • Long-term trendline resistance
  • 4AB=CD
  • 5BC Projection
  • Bearish MACD Divergence
  • RSI Overbought
  • 1.272 structure projection
Trade active
Bearish CrabconfluenceCrabMoving Average Convergence / Divergence (MACD)macdivergencePRZRelative Strength Index (RSI)rsi_divergenceSupport and ResistanceTrend Lines
glennmercer
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