Euro / British PoundShort
EURGBP today - Break Rectangular Consolidation
EURGBP is consolidating in a rectangular formation - .8545 - .8570.
Following a Drop, this consolidation is a continuation pattern, suggesting a further Drop.
Before that, look for the Smart Money to trap bulls with a false break to the upside. Most likely
in the London Session, as per yesterday and a move towards the Daily R1 Pivot.
The false break would be a good time to go short at a higher price and look to target the immediate demand zone at .8525
Following a Drop, this consolidation is a continuation pattern, suggesting a further Drop.
Before that, look for the Smart Money to trap bulls with a false break to the upside. Most likely
in the London Session, as per yesterday and a move towards the Daily R1 Pivot.
The false break would be a good time to go short at a higher price and look to target the immediate demand zone at .8525
Note
Close.... missed by 7 pips ....
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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.