EURGBP Short Possibility ?

11 de jan. de 2017

It seems that wave a has almost completed and we are approaching the start of wave b at the trendline, after a Bump and Run pattern has formed and cleanly broken structure.
SMA shows a clear bearish move in progress and should continue to the first approaching trendline.
RSI shows it is approaching the oversold position whilst Stochastic shows it has already reached oversold. MACD indicates the bearish move has almost completed before initiating a correction.
In my opinion, a good SHORT opportunity would be after the break of the approaching trendline where wave b correction should be performed.

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