The EUR/GBP manages to reach a lower low. 📉 🐻
We are already short since the beginning of August; however, it might not be too late to jump on the moving train! Short with stops above the previous highs might be a good idea. We see the downward move continuing. Target is as always our yellow box, where we expect a reversal. Nevertheless, we have to watch out for the 0.87 GBP area as there is strong support in form of the 61.8% resistance line. After completing wave (2) in white, we expect a strong upward move, if the scenario pans out as depicted.
Feel free to comment and discuss!
Happy trading!
We are already short since the beginning of August; however, it might not be too late to jump on the moving train! Short with stops above the previous highs might be a good idea. We see the downward move continuing. Target is as always our yellow box, where we expect a reversal. Nevertheless, we have to watch out for the 0.87 GBP area as there is strong support in form of the 61.8% resistance line. After completing wave (2) in white, we expect a strong upward move, if the scenario pans out as depicted.
Feel free to comment and discuss!
Happy trading!
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
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.
📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
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.