EUR/GBP Bearish Breakout Pointing to W L5

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/GBP continues with a downtrend as long as W L3 holds.

The price has reached the W L4 at 0.8325. At this point we can see the market retracement as the price is trying to get below the W L4 but it’s Friday’s profit taking. We could see a retracement up to 0.8346 and then after a retest, the market should be going down. That is a breakout-pullback-continuation pattern.  The final target is W L5 0.8292.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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