EURGBP - Trend Continuation

Price had bounced from the Daily trend line & Daily 50ema and we saw a retrace back up to the neckline (previous support now resistance) where price has been consolidating for the past 24 hours.

We did see a push higher above the neckline followed by a sharp decline to the downside with a long wick rejection indicating selling pressure defending the upside.

Another opportunity has presented itself upon a rejection of the neckline following from a bearish engulfing.

Downside targets are H&S pattern duplication.


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