EURGBP - Pullback expected - MTFA

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*** Not every idea is also traded by us ***



Hi Traders!
In the following you'll see a Multiple Timeframe Analysis.
It includes a screenshot and afterwards some bullet points.



Monthly TF:


- Consolidation/Range
- Price @ Support of this Range
- This time, price fell without any deep Pullback --> Bearish Strength
- Break of monthly Support --> Is it a Breakout or a Fakeout? --> Wait for (un)successful Retest to confirm that



Weekly TF:


- Reaction @ turquoise Area expected
- After analyzing the lower TFs, we found out that a pullback before entering the area is also possible
--> Don't expect a guaranteed entry of this Area



Daily TF:


- Pullback towards the Fib' Levels
- Price is making LLs and LHs, so it'll probably continue that pattern in the future



H4 TF:


- Bullish Divergence on the MACD Oscillator



If you have any questions, another POV or anything else to share, feel free to do so!




Thanks and successful Trading :-)!