EURGBP 1H possible shorts week of 11/12-11/17
With EURGBP recently setting the high of the year in August it sent the pair into a downtrend. Recently the pair testing the 0.88615 fib level and forming an inverted hammer on the 4h chart signals that the retracement may be complete and the pair will continue the trend downward. The week ended with an inverted hammer on the 1h chart at the 0.88370 fib level which leads me to assume it has tested this resistance level and failed. I will enter into a short upon market open either on the 12th or 13th depending on price action. The Sl and two take profit points are labeled in the chart.
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