Euro / British PoundUpdated EURGBP Projection
On the LTF we have a confirmed break of Market Structure. The impulsive Rally of
the last trading day has seen price break 1.8500 and establish a higher high.
Looking next week for this pair to consolidate between .8480 - .8520,
before a move up to the Supply Zone at .8640. This should be confirmed with RSI moving out of
the OB zone and into lower levels (50-70)
The HTF Market Structure is Bearish and intact. With this in mind, the move back to Supply would simply be a correction, before a larger move down in line with market structure.
the last trading day has seen price break 1.8500 and establish a higher high.
Looking next week for this pair to consolidate between .8480 - .8520,
before a move up to the Supply Zone at .8640. This should be confirmed with RSI moving out of
the OB zone and into lower levels (50-70)
The HTF Market Structure is Bearish and intact. With this in mind, the move back to Supply would simply be a correction, before a larger move down in line with market structure.
Note
This is good, a bit quicker off the mark than I thought. 86 target should be good.
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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.