On the daily timeframe of the EURGBP, price is trading within a descending channel that’s nested within a larger ascending channel.


Bears pushed the market lower, breaking out of the ascending channel while maintaining the trend on the descending channel. Follow price action in order to optimally join the potential bear market.

Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.