EUR/GBP Proceeds With Bearish Momentum

Dear Traders,

The EUR/GBP is still bearish. The price is rejecting the POC zone 0.8545-60 and we should see bearish continuation.

A drop below 0.8535 should make a continuation move towards 0.8520. There is a multiple confluence which suggests POC rejection. Trend line, Bollinger Bands, W H4, Bearish Candles and EMA 89 rejection. The target is 0.8519 and below, we should see 0.8490. Only a bounce above 0.8560 could make the trend change its direction.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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