The 1 hour time frame of the EURSGD is shown in this analysis from October 8, 2018 to current date.
A bearish trendline is used to highlight the current trend on the 1 hour timeframe, with resistance line (overhead supply) indicated by the red line.
Support is currently between 1.55396 and 1.55103. A break below support, especially the 1.55103 price level would indicate continuation of the current bearish trend, however, it is always better to sell on a pull back.
The bearish trendline (in green) was further extrapolated and could possibly provide a ceiling for price after which selling will commence. If not, a retracement to the red line would be anticipated.
A bearish trendline is used to highlight the current trend on the 1 hour timeframe, with resistance line (overhead supply) indicated by the red line.
Support is currently between 1.55396 and 1.55103. A break below support, especially the 1.55103 price level would indicate continuation of the current bearish trend, however, it is always better to sell on a pull back.
The bearish trendline (in green) was further extrapolated and could possibly provide a ceiling for price after which selling will commence. If not, a retracement to the red line would be anticipated.
