Looking at the $EURGBP all signs are pointing for a potential breakout to the bearish side. Between a series of lower highs & 2 very positive bearish rejection candles (even though they are green), I am seeing more selling pressure in this pair in comparison to the buying pressure.
The 2 ways to handle this situation would be to 1) Position yourself ahead of the breakout & 2) Wait for the confirmed breakout & look to get involved after a period of relief (pullback)
Targets are set at a higher timeframe level of structure (looking left) along with the confluence of an AB=CD pattern & a 161.8 Fibonacci extension level.
Akil
The 2 ways to handle this situation would be to 1) Position yourself ahead of the breakout & 2) Wait for the confirmed breakout & look to get involved after a period of relief (pullback)
Targets are set at a higher timeframe level of structure (looking left) along with the confluence of an AB=CD pattern & a 161.8 Fibonacci extension level.
Akil
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