EUR/GBP Losing steam on a higher scale, needs a big retrace

16 Kas 2018

If we look at the weekly chart, it looks like it's struggling to make a higher high so far. This is an indication of bulls losing steam and some retrace is needed. This is the big scale. But on a BIG BIG scale we're still bullish, and retracing to the area I outlined below would still be a valid retrace before reaching for new highs later.


I will make a separate idea for the lower time frame detailing the setup for this potential short of a 1000 pips.