EURGBP: Retracement Movement Occurring... High Resistance Zone!!

7 Ara 2020

Looking at EURGBP, I will be expecting a BEARISH movement occurring soon from this area. Previously, we managed to see several rejections off the resistance zone (red area). Looking at 2 diff fib level, we can see that the first retracement will be to the 0.5 fib level while the other shows a potential 1.68 fib retracement. There is also an area of support at that level. Therefore, if BULLs continue i will see a minimal retracement till the level before further bullish movement. If BEARISH continues, it could be a good R:R trade.

Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!