Multi Timeframe Analysis
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
Look left on the Daily Chart and see the repetition of sharp bullish impulses followed by swift bearish correction along the bearish daily master trend. EURGBP has completed it's most recent bullish impulse and should drop shortly- especially when GBPUSD is expected to strengthen in a few days.
Monitor price action on 4H chart and take a sell with potential TP at 0.8500
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace in the direction of the D1 master trend.
Recommendation:
Look left on the Daily Chart and see the repetition of sharp bullish impulses followed by swift bearish correction along the bearish daily master trend. EURGBP has completed it's most recent bullish impulse and should drop shortly- especially when GBPUSD is expected to strengthen in a few days.
Monitor price action on 4H chart and take a sell with potential TP at 0.8500