EUR/GBP Formed a Double Top
After almost
three weeks of moving to the upside the bullish trend of EUR/GBP seems to be
finally exhausted. The pair formed a double top at the resistance at 0.8000, as
well as a shooting star candlestick on the four-hour time frame. That is a
clear signal for a move to the downside, which has already begun. Currently the
pair is testing the support at 0.7900 and should it break below that level I
expect a further move to the downside towards 0.7840, which coincides with
(MA)89 on the four-time frame again. The long-term target of the move to the
downside is around 0.7770, which coincides with the same indicator on the daily
time-frame
It's still testing the support.
ReplyDeleteUseful analysis, thank you for sharing!
ReplyDeleteUseful post, thanks!
ReplyDeleteAccurate analysis.
ReplyDelete