EUR GBP made two doji on support. The Thursday candlestick pierced the previous low, spiked and closed just above. The Friday candlesick made a spike up but closed just little above support. The last two candlesticks are showing a lot of bearish pressure on support. The tops may indicate a downtrend channel with a similar volatility to previous ones. If support resists on Monday it could run horizontally all week without breaching the support and making quick run towards top-down resistence...This strange W formation could be tricky to trade on short term. Hope it helps.
Kommentar
⋅
It should breach that support at some point but too early to say unless tomorrow it open below lower low and fall. It looks like it will break it at some point but not sure yet how and when.