EURGBP below Support Pivot Point

23 Mar 2020

Pivot Points, according to marketkolor.com, assists in determining Support and Resistance levels. EURGBP has closed below it's S1 value. This suggests the price action has a strong tendency to the downside but could find support. However, look for sustained price action below this support level for confirmation of break and possibly further downside or a correction above support level. Don’t forget about positioning for the short! Stubborn longs persist in the short term!