E EUR/GBP: Resistance Indicates A Possible Reversal Taking Place Towards New Lows


Five waves down from 0.8725 to 0.8330 confirms a change in trend from bullish to  temporary bearish mode, so weakness is expected to continue if we consider that recent bounce from the low is already in three waves. Ideally A)-B)-C) rally is completed, but for final confirmation break beneath trendline support and below wave B) swing low is still needed to put bears in play.

EUR/GBP, 4H

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