Hi everyone,
Please see my analysis for EURGBP on the 30m timeframe.
As we can see on the chart earlier this morning the price broke out of the downtrend and began to trend to the upside but at 11am we had a news release ( MPC Member Saunders Speaks ) which caused GBP to rally and as we can see this gave us a 40 pip drop within the space of an hour which took the upwards momentum out of the market.
Price declined to the .85105 mark which has acted as a support and at this level we have had a reversal to the upside.
Following the reversal we have had a three white soliders candle stick pattern formed which is a sign that price will continue to rally to the upside.
I have scaled in entries from .85105 to current price and now I will be watching this closely.
Happy trading people.
Any likes and comments would be appreciated.
Follow for daily updates.
DWFX
Please see my analysis for EURGBP on the 30m timeframe.
As we can see on the chart earlier this morning the price broke out of the downtrend and began to trend to the upside but at 11am we had a news release ( MPC Member Saunders Speaks ) which caused GBP to rally and as we can see this gave us a 40 pip drop within the space of an hour which took the upwards momentum out of the market.
Price declined to the .85105 mark which has acted as a support and at this level we have had a reversal to the upside.
Following the reversal we have had a three white soliders candle stick pattern formed which is a sign that price will continue to rally to the upside.
I have scaled in entries from .85105 to current price and now I will be watching this closely.
Happy trading people.
Any likes and comments would be appreciated.
Follow for daily updates.
DWFX