EUR/GBP has
been gradually moving to the upside for the past few days, after it formed a
pair of spinning top candlesticks on the daily time-frame above the support at
0.8470, but it appears that the move to the upside is exhausted for now at
least. The pair formed an obvious shooting star candlestick on the four-hour
time-frame below the resistance at 0.8765 and started dropping. The move to the
downside will likely continue until EUR/GBP reaches the support at 0.8615, and
a breakout below that support will probably lead to a further drop towards the
next support level, which is at 0.8540 and coincides with the (MA)89 indicator
on the same four-hour time-frame again.
Good assessment as always.
ReplyDeleteUseful information, thanks!
ReplyDeleteSeems like a retracement is coming!
ReplyDeleteGreat info, very helpful.
ReplyDelete