Having had a nice bearish run on EURGBP we are now trading into a daily support area forming a daily double bottom structure.
On the 4hr/1hr time-frame we are also forming a double/triple bottom structure with nice lower time-frame wicked rejections showing deceleration and rejection of this area. We are looking for a potential long trading into recent structural highs being aware of the 4hr bearish downwards trend that will possibly act as an area of resistance. Stop placement would be just below the structural lows.
Lukas -Tradedistrict
On the 4hr/1hr time-frame we are also forming a double/triple bottom structure with nice lower time-frame wicked rejections showing deceleration and rejection of this area. We are looking for a potential long trading into recent structural highs being aware of the 4hr bearish downwards trend that will possibly act as an area of resistance. Stop placement would be just below the structural lows.
Lukas -Tradedistrict