EURGBP long idea

This pair has some upside potential to 0.8045 which also happens to be a quarterly high that has a high probability of offering a good resistance, that is the bare minimum target. If price moved higher i would expect a maximum of 0.8080-85. The liquidity pool that is pending to be taken at 0.7992 offers a short term target. This means that if the Euro continues to gain strength to the upside and at the same time the dollar is gaining strength, the GBPUSD or Cable will be the better short compered to EURUSD which is likely to be held in a consolidation.

Kommentera:

since we have seen the 0.7980 level reached at and the liquidity pool at 0.7945 taken, as we are at a daily ob and the within a higher weekly bearish ob i would expect that level to hold for now.