Sell Forex Signal Live on EUR/GBP Now
Skerdian Meta • 1 min read
Yesterday we highlighted a resistance area for EUR/GBP if you remember. That area stretches from 0.8830s to 0.8860s.The resistance has moved lower actually and now the bottom of that range is doing all the work.
We´re putting our trust on moving averages for this trade
As you can see from the H4 EUR/GBP, the top is getting lower. That’s a bearish sign by the way. The price just kissed that resistance level right at 0.8830 a few minutes ago, so we decided that this was the time to go short on this forex pair.
OK, the price has just pierced above the 100 simple moving average (green), but as we said, the resistance area goes up to 0.88960. Besides, the H4 candlestick hasn’t closed yet; the break is valid only after the candlestick closes.
But, that’s not all there is for sellers. There’s more back up waiting above. The 100 smooth MA (red) and the 200 smooth MA (purple) are standing above our heads and they are supposed to provide more resistance if the buyers keep pushing.
There’s the Brexit process which can ruin any perfect trades in GBP pairs. The EU officials are meeting up for the Brexit trade talks today and the GBP is feeling some heat at the moment. But, we hope that this doesn’t affect the GBP too much.