EURGBP next step - falling
In early September, the price bounced off the local support line and rose strongly.
Since then, it has been moving in a very even downtrend between two strong lines: support and resistance.
But, interestingly, most of the movements take place without touching these lines - the price often reacts to less local lines and begins to rise or fall without touching support or resistance.
In the same way, my previous prediction came true - when the price first rose slightly, and then fell without touching the lines.
And I observed the same situation recently. The price touched the line only with the shadow of the candlestick (0.891) and immediately began to grow.
In principle, this is an established pattern. So I expect that:
1. First, the price will finish the movement and rise to the resistance line.
2. Then it will fall to the support line.
Target - support zone at the intersection of two lines 0.890
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Since then, it has been moving in a very even downtrend between two strong lines: support and resistance.
But, interestingly, most of the movements take place without touching these lines - the price often reacts to less local lines and begins to rise or fall without touching support or resistance.
In the same way, my previous prediction came true - when the price first rose slightly, and then fell without touching the lines.
And I observed the same situation recently. The price touched the line only with the shadow of the candlestick (0.891) and immediately began to grow.
In principle, this is an established pattern. So I expect that:
1. First, the price will finish the movement and rise to the resistance line.
2. Then it will fall to the support line.
Target - support zone at the intersection of two lines 0.890
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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