EUR/GBP:
Date: May 25, 2016
D1 Graph: Medium term short move
Price has reached FIB 61,8% on W1, then price falls and breaks down a horizontal support at 0.773/0.7750. The move lower continue and breaks another horizontal support at 0.76500. Re-test on this last level of which was support and now resistance and to continue lower.
Alternate scenario: if the price moves up above 0.7755, this will cancel the bearish view.
Technical indicators:
DEM (14) D1 - In oversold zone
RSI (14) D1 - is below 50
Price for Entry short around: The closer to 0.76500 the better
SL: 0.77550
Jr. Trader - S. Fuchedzhiev
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