Euro / British PoundUpdated [Market Breakdown 2] EURGBP
WEEKLY
We are sitting at a Weekly low zone as you can see.
Rejecting since June 2020 as support so pretty strong zone.
It's not only Support it's a clear Supply & Demand zone.
We have a -27 Fib completion, so we can expect a change of momentum.
These are all indications for a Long set-up.
We are sitting at a Weekly low zone as you can see.
Rejecting since June 2020 as support so pretty strong zone.
It's not only Support it's a clear Supply & Demand zone.
We have a -27 Fib completion, so we can expect a change of momentum.
These are all indications for a Long set-up.
Note
DAILYOn the Daily chart, we are currently making LLs and LHs.
Price is moving very correctively with the trend at the moment.
This is an indication that the bears are getting weaker/tired.
Bulls are getting stronger and are preparing for a push to the upside.
These are still all indications for me.
You don't want to trade against the trend, so i want to see a break of the Descending trend line and the last LH first before considering a Long position.
Note
ALWAYS STAY NEUTRAL AND ANTICIPATE ON THE SITUATION.
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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.