EURGBP
From the Technical views:
1. From the daily point of view, price broke below the major structure area, and it may become the potential resistance level, and this resistance level is aligning up with the 0.5 and 0.618 of the FIB level. We can expect the price react to either one level before moving to the downside.
From the Institutional's views:
1. Overall bullish bias on EUR in the long term but bearish bias in the short term.
2. Overall bearish bias on GBP in the long term but bullish bias in the short term.
3. More long closed on EUR and more long added on GBP in the short term, we can expect some strength arise on the GBP and drive the EURGBP to the downside.
How to approach EURGBP?
1. Waiting for the price retrace to the structure area I mentioned above
2. Once complete the retracement, switch to the lower timeframe and look for the short opportunity, if your strategy's conditions are fulfilled.
3. Sell at the moment is not a good idea, because you will be missing out on your area of the value.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on EURGBP.
1. From the daily point of view, price broke below the major structure area, and it may become the potential resistance level, and this resistance level is aligning up with the 0.5 and 0.618 of the FIB level. We can expect the price react to either one level before moving to the downside.
From the Institutional's views:
1. Overall bullish bias on EUR in the long term but bearish bias in the short term.
2. Overall bearish bias on GBP in the long term but bullish bias in the short term.
3. More long closed on EUR and more long added on GBP in the short term, we can expect some strength arise on the GBP and drive the EURGBP to the downside.
How to approach EURGBP?
1. Waiting for the price retrace to the structure area I mentioned above
2. Once complete the retracement, switch to the lower timeframe and look for the short opportunity, if your strategy's conditions are fulfilled.
3. Sell at the moment is not a good idea, because you will be missing out on your area of the value.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on EURGBP.
כתב ויתור
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