Another dip lower is likely. EURGBP was rejected the 50-days simple moving average, and completed a minor double top pattern. Look for a retest of the main rising trend line.
Ive just posted a TA on this pair, agree with the short term move to trendline and 50% fib, I will be looking to take the pair long here back to top of most recent range. I would be cautious on the way down as there is Brexit news this week and I can see some strong headwinds for the pound.
TempyRT
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Plotted long term SR levels from the weekly, long upper wick of Thursdays session tagged the upper SR level, the lower SR level is in play as there is also confluence with the rising trend line
xemalutiwsa
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Please sir your work is fantastic, I would love to see more of it...
zevozididupo
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Can you explain more on your view for this trade?
john.greydanus
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@zevozididupo, Another dip lower is likely. EURGBP -0.27% was rejected the 50-days simple moving average , and completed a minor double top pattern. Look for a retest of the main rising trend line.