EURGBP Short Bullish
0.91730, 0.83000, 0.84700, 0.85960, 0.86680, 0.88650, 0.89300
Price expected to bounce from 0.84700 or 0.83000. Price managed to close below 0.85960 level and there are two possibilities, if the price close below 0.84700, there is a higher chance for the price to drop further to 0.83000 level or if it remains above 0.84700 level, there is a higher chance for the market to rise to test the 0.88650 level. We can only confirm the direction of the market if there is any formation of a bullish candlestick pattern around 0.84700 or 0.83000 levels. If there is any possible reversal spotted at this level the chances of testing the 0.88650 level are extremely high. We look for a short bullish rally around these two levels and the ideal stop loss will be below 0.83000 level and expecting profit target at 0.88650 level.
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