EUR / GBP
Time frame: H4
Technical analysis: Clearly declining trend which started on 03.01.19. After the pair made a bottom at the price of 0.8620, it entered a short ascending trend. On 07.0219 the upward trend was broken, but the pair failed to continue to fall but instead the price managed to reach the upper diagonal resistance and retest the short-lived upward channel.
Indicators: The price is below 200 EMA, and it plays a role of resistance.
DeM – In neutral territory and does not give signals for the moment
Aggressive Entry into a Deal: Sell from current levels.
Conservative entry into a deal: After a second retest of diagonal resistance launched on 03.01.19 we can enter the market with “sell” positions.
Alternative Scenario: Breakthrough of diagonal resistance would lead to a test 0.8860 level test
Trader Milko Zashev