EURGBP Projection
Updated
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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