EURGBP to drop (28/05/2019) 11:48

EURGBP to drop (28/05/2019) 11:48

On May 28, 2019, Posted by , In Uncategorized, By , , With No Comments

EURGBP.DMAWeekly.png

We will be seeking to short the EURGBP for the reasons mentioned below. The price is at weekly resistance trend line, drawn from the high/peak on the 3rd Sep 2017 and connecting every high thereafter. We are expecting the Bears to step in to push the price lower. Furthermore, the price is also overbought on the W1 chart, this indicates exhaustion of the buyers. The market is also in the fub zone, drawn from the previous high (the high on 25th Nov 2018) The only thing missing are confirmation candlesticks as when looking on the H4 chart the market is diverging and also the price has broken the ascending trend line on H4….This all points to a possible downward move

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