Reason for Long:
-Price is holding at my weekly zone which is acting as clean support.
-Candlesticks on H4 are respecting weekly zone and not able to pass beyond it.
-EURGBP has been in an extended bearish market for the previous 5 days and expect a reversal to occur.
-H1 is showing clean double bottom PA at 0.88400
-No economic news releasing for 16th Jan to spike price.
Conflicting signals:
EURGBP is currently in a downtrend indicated by price trading under 800, 200 & 50 EMA on H4.
Expecting a 70 pip move from 0.88400.
-Price is holding at my weekly zone which is acting as clean support.
-Candlesticks on H4 are respecting weekly zone and not able to pass beyond it.
-EURGBP has been in an extended bearish market for the previous 5 days and expect a reversal to occur.
-H1 is showing clean double bottom PA at 0.88400
-No economic news releasing for 16th Jan to spike price.
Conflicting signals:
EURGBP is currently in a downtrend indicated by price trading under 800, 200 & 50 EMA on H4.
Expecting a 70 pip move from 0.88400.