Yesterdays analysis update for EURGBP played out very nicely targeting the bottom of the channel. Here we can identify what we like to call a double zone. This is when structure meets a horizontal level, trend line or 50EMA. In this instance we have the top of the channel and horizontal level creating our double zone which was rejected with the double wick. Price then sold off creating the push phase, after a push phase an exhaustion phase will follow; this is where our short zone was created.