We have seen a Double Top pattern come into light on the 4 hour chart of
EURGBP
. We will continue to watch this pattern and look to go SHORT on a break of the neckline at 0.88560.
Other factors
- MACD histogram is printing in the negative
- We already have a cross of the MACD (blue line) over our Signal (orange line).
- Price is already trading below the 50 SMA
- Price is in route to trade below 100 SMA & 200 SMA - this will further confirm our sentiment if this transpires
ENTRY
On a break of 0.88560 - around 0.88550
STOP LOSS
0.90260
TARGETS
0.88290
0.88060
0.87810
0.87480
Published 10/21/17
EURGBP
. We will continue to watch this pattern and look to go SHORT on a break of the neckline at 0.88560. Other factors
- MACD histogram is printing in the negative
- We already have a cross of the MACD (blue line) over our Signal (orange line).
- Price is already trading below the 50 SMA
- Price is in route to trade below 100 SMA & 200 SMA - this will further confirm our sentiment if this transpires
ENTRY
On a break of 0.88560 - around 0.88550
STOP LOSS
0.90260
TARGETS
0.88290
0.88060
0.87810
0.87480
Published 10/21/17