Over the last days EURGBP rebounded of upwards trend line from May 03 (Green Line) but failed to break resistance at 0.90976 and traded sideways until it hit downwards trend line and fell(Red Line)
Today it broke green trend line and is currently trading sideways and small candles forming every hour
I see a couple options forming either price will go up and hit around .90680 (Purple Zone) and fall down towards 0.89076 (blue line) or start falling when japan and london open.
It may go back up and into previous supports and resistances 0.9068 and 0.90976 but i would not go long because first historical highs and historical resistance where tested on august 12 and price fell from there as a rule i never buy a historical high and never buy a down trending market (thats just me been Short since 0.9295).
If you decide to take a short do not take just yet wait for market at japan open and possibly london open. When you do take it your take profits are at 1. 0.90000 2. 0.8957 and 3. 0.89070
Today it broke green trend line and is currently trading sideways and small candles forming every hour
I see a couple options forming either price will go up and hit around .90680 (Purple Zone) and fall down towards 0.89076 (blue line) or start falling when japan and london open.
It may go back up and into previous supports and resistances 0.9068 and 0.90976 but i would not go long because first historical highs and historical resistance where tested on august 12 and price fell from there as a rule i never buy a historical high and never buy a down trending market (thats just me been Short since 0.9295).
If you decide to take a short do not take just yet wait for market at japan open and possibly london open. When you do take it your take profits are at 1. 0.90000 2. 0.8957 and 3. 0.89070