EURGBP – Clear bearish condition

The EURGBP was rejected from an important LT resistance level around 0.8915, and it is likely to continue its way down until it reaches the next LT support level around 0.8651. It is currently trading at 0.8793 so we still have some room left to get a good risk reward ratio:

I’d like to see a retracement to the top of the range, if I see significant downward pressure around that level, I’ll go short.

I’ll stop looking for short opportunities if the EURGBP breaks 0.8837 for the upside.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .


  • Anonymous

    spot on…I was on the same wave-length on this analysis…

    • Great!!!! did you go short?

      Regards,

      Raul