EURGBP: Key Weekly Supply Zone Ahead!!!
hey traders,
+4.5% growth during the last 10 days on EURGBP.
Pound keeps losing its grounds on brexit news.
however, based on 3 days chart analysis you can see that the market is facing a crucially important zone of supply.
its lower boundary - 0.93 level is based on 2019's structure high (immediate bearish reaction followed and -10% drop)
its upper boundary - 0.95 is based on 2020's structure high (immediate bearish reaction followed and -8% drop).
+ the projection of the last bullish impulse from the higher low is lying perfectly within that zone.
chances will be high that the underlined area will be respected and we will see a pullback.
I will be looking for short opportunities once the market enters that area.
have a great weekend!
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
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.