Day trade
Trade view / 13 March 2018 at 7:54 GMT

EURGBP – Bearish Shooting Star points lower

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: 0.8795
Market price: 0.8878

Despite Friday’s stalling at the 13-day moving average, this week's signals for sentiment are negative with Wednesday’s Bearish Shooting Star pattern a significant background feature. That view has been tentatively confirmed as EURGBP was sold at lower levels for a third day in a row yesterday. Although net downside was limited the cross closed below the 13-day line and this keeps the focus on the downside.

Management and risk description

A move to 0.8849 means the stop can be lowered to break even.


Entry: Sell in 0.8878/83 area and at 0.8898

Stop: 0.8928 bid

Target: 0.8849, 0.8823 and 0.8795

Time horizon: Intraday, closing 16:00 GMT

Shooting Star
Bearish Shooting Star
Lower Highs
Lower Highs
Long Term
Long Term
 All charts from CQG

— Edited by Clare MacCarthy

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