EUR/GBP: higher timeframe correctional move
Looking at the higher timeframe charts, it can be identified that the price is breaking the local zone of support/previous HH and is probably headed towards the 0.846 zone of support that collides with 61.8% Fibonacci retracement level.
We are patiently waiting for the price to re-test the local zone of support that is about to become an area of resistance before we open SELL positions and aim for the zone of crucial support as illustrated on the graph.
We are patiently waiting for the price to re-test the local zone of support that is about to become an area of resistance before we open SELL positions and aim for the zone of crucial support as illustrated on the graph.