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EUR/GBP: higher timeframe correctional move

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Euro / Libra Esterlina (OANDA:EURGBP)  
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OANDA:EURGBP   Euro / Libra Esterlina
Support and Resistance Supply and Demand Trend Analysis EURGBP priceaction Technical Analysis forextrading Fibonacci Retracement investroy
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supportandresistance supplyanddemand trendanalysis eurgbp priceaction technicalanalysis forextrading fibonacciretracement investroy
Looking at the higher timeframe charts, it can be identified that the price is breaking the local zone of support/previous HH and is probably headed towards the 0.846 zone of support that collides with 61.8% Fibonacci retracement level.

We are patiently waiting for the price to re-test the local zone of support that is about to become an area of resistance before we open SELL positions and aim for the zone of crucial support as illustrated on the graph.
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