EURGBP: Trading Opportunity for US Session

12 Feb 2021

EURGBP is trading within a strong falling parallel channel on 4H.
Its resistance has been reached recently and on that, the price formed a bearish engulfing candle.

On hourly, the price is currently ranging.
0.8775 is the support of the range.

To catch a bearish move with confirmation,
wait for a breakout of its support (hourly candle close below),
then sell aggressively or on a retest.

First goal will be - 0.8755

In case of a bullish breakout of the range, the setup will be invalid
and bias will be bullish!