As you see in the 4H chart, price is in a downtrend and has approached to the yellow support level .
If we take a look at the price structure, we can see that there was a sharp uptrend first, then price has started a downtrend.
Currently, price failed to break the last major low at 0.8323, and is pushed to the upside. There is also bullish pressure in the market and the last 4H candle has been closed above the previous candles and engulfed them.
If price breaks the last 4H candle’s high and closes the current 4H candle above it, I expect a rise on EURGBP.
NFA
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now