EURGBP testing resistance, potential drop!
EURGBP is testing our resistance at 0.8951 (horizontal swing high resistance, 76.4% fibonacci retracement , bearish divergence) and a strong reaction could occur at this level to push price down towards 0.8911 support ( Fibonacci retracement , horizontal pullback support). This level needs to be broken to open a further drop towards 0.8842 support ( Fibonacci retracement , horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. We can also see bearish divergence vs price which is a good precursor of a potential drop.
RSI (34) has also made a bearish exit as a first sign that a reversal is fast approaching.
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. We can also see bearish divergence vs price which is a good precursor of a potential drop.
RSI (34) has also made a bearish exit as a first sign that a reversal is fast approaching.
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