Forex Forecast #EURGBP Reversal Begins

08.21.19 12:12 PM Comment(s) By Alan Posner

Current Technical State: Bearish

Nearest Support Levels: .9200

Nearest Resistance Levels: .9000


Support/Resistance

Price rallied .92 where resistance from August 2017 forced reversal. Next target is .9000. The Bearish Piercing Pattern is the rally top.


Last Confirmed Candlestick Pattern

Bearish Piercing Pattern 8/16 


Momentum Status

Waning Bullish Momentum approaching neutral. No longer Overbought or Oversold.


Last Chart Pattern and current position relative to Pattern

Broadening Top Pattern from March/April 2018 with touch points in August 2018, March 2019, and August 2019. December 2018 was nearly a touch point with multiple candlestick shadows. 

EURGBP Bearish Piercing Pattern
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