The 3 day chart shows us the pair is in the horizontal resistance/decision are.
The resistance is strong and therefore I am short biased.
The closer look shows us that he upward movement was being conducted within the channel, which somewhat limits the short's potential, giving it an additional support.
Anyhow, wait for breakout for both scenarios, as always. 2 and 4 hour chart are good for that too. The 8 hour chart is given for convenience.
This is the trading plan for EURGBP.
Thank you for reading. Like and subscribe to support me.
Wish you a nice day.
The closer look shows us that he upward movement was being conducted within the channel, which somewhat limits the short's potential, giving it an additional support.
Anyhow, wait for breakout for both scenarios, as always. 2 and 4 hour chart are good for that too. The 8 hour chart is given for convenience.
This is the trading plan for EURGBP.
Thank you for reading. Like and subscribe to support me.
Wish you a nice day.
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