EURGBP FORECAST
EURGBP is looking ripe for a correction from its recent upwards run.
MACD is signalling bearish divergence as price now sits near support.
We expect price to bounce off initially, retesting local resistance. If we see prices get rejected at resistance, expect a sharp decline down to the next support level.
Alternatively, price could breakout on either side, targeting the next set of levels shown on the chart. However, we see a bearish bias this week.
Trade idea:
Short @ ~0.9020 [If bearish setup around this level]
TP
1: 0.8935
2: 0.8945
SL:
0.9039
MACD is signalling bearish divergence as price now sits near support.
We expect price to bounce off initially, retesting local resistance. If we see prices get rejected at resistance, expect a sharp decline down to the next support level.
Alternatively, price could breakout on either side, targeting the next set of levels shown on the chart. However, we see a bearish bias this week.
Trade idea:
Short @ ~0.9020 [If bearish setup around this level]
TP
1: 0.8935
2: 0.8945
SL:
0.9039
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