Euro / British PoundShort
EUR/GBP: the most simple chart analysis you will see today
Let's make a multi-timeframe analysis of EUR/GBP and closely observe the situation that we currently have.
Firstly, looking at the DAILY timeframe graph, it can be noticed that the price has formed a massive Head&Shoulders pattern, which is a clear SELL indicator.
Next, zooming into lower timeframe charts, in this case the 3H-timeframe graphic, we can clearly see that a nice flip over is happening and that the price is reversing. Once the price develops a bit more, we are expecting for impulsive bearish moves to kick in and drive the price till the area indicated on the chart and even below.
Firstly, looking at the DAILY timeframe graph, it can be noticed that the price has formed a massive Head&Shoulders pattern, which is a clear SELL indicator.
Next, zooming into lower timeframe charts, in this case the 3H-timeframe graphic, we can clearly see that a nice flip over is happening and that the price is reversing. Once the price develops a bit more, we are expecting for impulsive bearish moves to kick in and drive the price till the area indicated on the chart and even below.
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