EURGBP is trading in ascending Rectangle. Resistance and Support levels are respected as shown in chart. Now price is at Resistance level. RSI showing overbought too. Full confirmation is there, setup your trade. Going to show some correction. Tell your opinion in comments!!
There's a strong resistance here(weekly). So, we can take a nice short here for the target shown in the chart!!! Prices also showing good pullback downside so, it may be a good trade for us !!! Also, last week prices take good upside route and a recovery to downside is strongly expected from here... That's all for now... Follow for more!!! :)
we cn see a small retracement in down side for eurgbp
Sell Below 0.89600 Stoploss- 0.89900 Target- 0.89200-0.88850 Reasons for trade- 1. Price is near to daily channel resistance formed in Aug 17 2.4 Hour chart has formed double top pattern and took resistance twice from 0.89900 levels. 3.multiple support taken near 89.630 which has become weak now. 4.Risk Reward Ration is more than 1:1.5