EURGBP is approaching a major S/R level that is worth watching for possible price action.
Looking at the Big Boss, price has continued the downswing since last month and is now sitting nearly right on top of the 20.
The Boss candle has held under the 20 & 50 for the last 2 1/2 weeks and is showing strong selling momentum presently.
Worker has been trending down with no sign of demand entering the market or profit taking yet, as the last three candles have been nearly end to end after bouncing off the 20.
With this much downward momentum I don't think I would be standing in the way, but it will be interesting to see what happens near the S/R level.
Dave
Looking at the Big Boss, price has continued the downswing since last month and is now sitting nearly right on top of the 20.
The Boss candle has held under the 20 & 50 for the last 2 1/2 weeks and is showing strong selling momentum presently.
Worker has been trending down with no sign of demand entering the market or profit taking yet, as the last three candles have been nearly end to end after bouncing off the 20.
With this much downward momentum I don't think I would be standing in the way, but it will be interesting to see what happens near the S/R level.
Dave