EUR/GBP- 4 Hour overview

Hello everybody!

-On a 4-hour chart, we can see that the price reached a resistance area, and then the price formed a very nice double top pattern.

-We can see that the price is forming bearish engulfing right now and that is a strong reversal signal.

-On a Stochastic indicator, we can see that the price is in an overbought condition so we may expect some bearish power to take control over this pair.

-On a 4-hour base, EUR is the weakest currency at this moment and GBP is in a pretty solid condition while on a 8-hour base, GBP is a little bit weaker than USD.

-If EUR remains weaker than GBP then we can expect that the price is going to continue moving in a bearish direction.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.