Short on EURGBP is already happening!

١٦ سبتمبر ٢٠١٨

At the end of August 2018, we saw a strong reversal on EURGBP. The market failed to break resistances around psychological level 0.9000 and created a massive engulfing pattern after which the market stopped for a while at the trendline and then while breaking trendline, the pattern 123 was confirmed. Now the market is very bearish and there are no signs of EURGBP coming back up, so it is recommended to look for sell opportunities. Lately, the market created 3 daily inside candles after which we expect the continuation of a downtrend. The market is very likely to get to the zone at the bottom around the price 0.86-0.865 in a next few weeks depending on fundamental events and strength of bears.