EURGBP Technical Analysis
The overall trend remains clearly bearish, however the price has managed to gain some grounds in recent days, pulling back higher and retesting the short term trend line and the horizontal resistance area starting at 0.7218 and extends to 0.7238. A good area for shorts if we assume the bearish trend will resume.
So i suggest watching this important area for downside reversal, as RSI is approaching overbought as well. A break below the potential continuation flag pattern might be a good bearish confirmation signal.
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------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
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My best regards
Technician
The overall trend remains clearly bearish, however the price has managed to gain some grounds in recent days, pulling back higher and retesting the short term trend line and the horizontal resistance area starting at 0.7218 and extends to 0.7238. A good area for shorts if we assume the bearish trend will resume.
So i suggest watching this important area for downside reversal, as RSI is approaching overbought as well. A break below the potential continuation flag pattern might be a good bearish confirmation signal.
Thank you for reading , be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
