EURGBP can move lower? 🦐

EURGBP on the 4h chart is trading within an ascending channel.
The price after the test of the historical string support provided a false breakout of the 0.8300 level and retraced to the upside.
With a test of the 0.8500 weekly resistance the market moved to the descending trendline of a weekly channel and is now moving lower.

How can i approach this scenario?

I will wait for the EU market open and if the price will break below 2 support areas i will check for a nice short order according to the Plancton's strategy rules.


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Follow the Shrimp 🦐

Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.


Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.

Commentaire:

breaking the trendline as expected

Commentaire:

market is moving above the strong support area

Commentaire:

a strong support is acting exactly as a strong support

Commentaire:

only after a break of the support i ll consider a short

Commentaire:

perfect call