EUR/GBP: the most simple chart analysis you will see today

Let's make a multi-timeframe analysis of EUR/GBP and closely observe the situation that we currently have.

Firstly, looking at the DAILY timeframe graph, it can be noticed that the price has formed a massive Head&Shoulders pattern, which is a clear SELL indicator.

Next, zooming into lower timeframe charts, in this case the 3H-timeframe graphic, we can clearly see that a nice flip over is happening and that the price is reversing. Once the price develops a bit more, we are expecting for impulsive bearish moves to kick in and drive the price till the area indicated on the chart and even below.