EURGBP has just broken structure on the 1H chart and is showing strong momentum to the downside. After taking out a key low, price is now sitting in a vulnerable spot, with a potential push even lower on the table.
A fair value gap sits just above, and price might return there before continuing its move down. If that happens, it could set up a clean lower high and another leg into the previous low.
This setup looks promising, but as always, wait for a shift in character on the lower timeframe before making any decisions. If that shift doesn't happen, price could still run deeper before any reaction.
A fair value gap sits just above, and price might return there before continuing its move down. If that happens, it could set up a clean lower high and another leg into the previous low.
This setup looks promising, but as always, wait for a shift in character on the lower timeframe before making any decisions. If that shift doesn't happen, price could still run deeper before any reaction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.