EURGBP – Pulling Back Towards Support (Daily chart)

Chris Capre 2ndskiesforex

Price Action Context

After a very strong non-volatile bull run since early May, ST volatility has started to increase and the pair is currently pulling back towards the resistance that was broken in early June, which now should act as support.

Trending Analysis

ST & MT bias is bullish and bulls can look for possible trading locations around the support zone. A strong break and close back below 0.8780 would put 0.8675 & 0.8500 back on the radar.

Key Support & Resistance Zones

R: 0.9040 – 0.9100
S: 0.8780 – 0.8850

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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