EURGBP lies just short of the falling trend line from October 2016 and lies on the well established horizontal resistance at .8636.
Price has just nudged through the 100 sma but hasn't closed above it. This area is also WR2 resistance and with RSI on H4 overbought, EURGBP BULLS might find it hard going.
I prefer to SHORT this market on signs of weakness on the open but I wouldn't be too confident.
Trade idea.
SELL if we head under .8600.
Wait for a return to the 200sma on H4 or H1 to consider a LONG trade.
Price has just nudged through the 100 sma but hasn't closed above it. This area is also WR2 resistance and with RSI on H4 overbought, EURGBP BULLS might find it hard going.
I prefer to SHORT this market on signs of weakness on the open but I wouldn't be too confident.
Trade idea.
SELL if we head under .8600.
Wait for a return to the 200sma on H4 or H1 to consider a LONG trade.
