The EURGBP formed a Cup and Handle recently, broke out of the brim level, then went right back to retest.
Buyers and sellers are consolidating but looks like with the higher lows we could see buyers win..
7=21>200
RSI>50
Target 0.9312
SMC Warning
If you look back you'll notice a LARGE candle with a big wick. This is where Smart money came in and took out all of the stop losses on the supply side.
This marked a level of liquidity. Then recently, when the price broke above the Brim Level, it tested this high again which is where liquidity was swept, which lead to downside again...
Now we need a new low to form (higher low) and then the buying pressure will kick in and smart money could make a new level of liquidity but on the buy side.
The trade signal is in according to the patterns, now we need a strong move up.
Buyers and sellers are consolidating but looks like with the higher lows we could see buyers win..
7=21>200
RSI>50
Target 0.9312
SMC Warning
If you look back you'll notice a LARGE candle with a big wick. This is where Smart money came in and took out all of the stop losses on the supply side.
This marked a level of liquidity. Then recently, when the price broke above the Brim Level, it tested this high again which is where liquidity was swept, which lead to downside again...
Now we need a new low to form (higher low) and then the buying pressure will kick in and smart money could make a new level of liquidity but on the buy side.
The trade signal is in according to the patterns, now we need a strong move up.
✅ Facebook:
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)