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EUR/GBP Nears Former Support, Now Resistance

Published 05/04/2016, 07:30 AM
Updated 01/13/2022, 05:55 AM

EUR/GBP is coming back to test key trendlines. Opportunities may exist to look for any bearish price action.

4-Hour EUR/GBP

Looking for a pullback in price to at least the 61.8% Fibonacci level around 0.79650 and then waiting for any break into the redzone to look at going short again.

Weekly EUR/GBP

Should price continue upwards and break through the main weekly downward Trendline and the previous swing high and bust through 0.81650, then any bearishness on this pair is negated.

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by Arthur Drakopoulos

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