EUR/GBP: Bearish Short Term Prediction
I have a long term bullish bias on this pair but it is currently still bearish and there is no confirmation as of yet to indicate bulls are in play. You can see that price has just touched a demand zone and is pulling back to a supply zone. Still anybody's game but am expecting a pull back to retest supply to continue down to test a critical area that will either send the pair flying upwards or consolidate to continue downwards.
With the current consolidation/accumulation, you can expect price to reach entry with ease and fall, however, since price is currently touching the supply, if you see a strong bearish reaction without touching the entry and then reaching up to entry quickly, you can probably tell that price is going to continue upwards.
With the current consolidation/accumulation, you can expect price to reach entry with ease and fall, however, since price is currently touching the supply, if you see a strong bearish reaction without touching the entry and then reaching up to entry quickly, you can probably tell that price is going to continue upwards.
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.