EURGBP - Intraday - We look to Sell at 0.9255 (stop at 0.9285)
Price action has formed a bearish ending wedge formation. Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Rallies continue to attract sellers. There is scope for mild buying at the open but gains should be limited. We look to set shorts at our bespoke indicator level (0.9255). Bespoke support is located at 0.9090.
Our profit targets will be 0.9090 and 0.9050
Resistance: 0.9255 / 0.9285 / 0.9300
Support: 0.9192 / 0.9090 / 0.9060
Price action has formed a bearish ending wedge formation. Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. Rallies continue to attract sellers. There is scope for mild buying at the open but gains should be limited. We look to set shorts at our bespoke indicator level (0.9255). Bespoke support is located at 0.9090.
Our profit targets will be 0.9090 and 0.9050
Resistance: 0.9255 / 0.9285 / 0.9300
Support: 0.9192 / 0.9090 / 0.9060
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