From investor to scalper is an analysis cycle in which we take one financial instrument each day and the analysis includes a detailed look at the value from the monthly/weekly chart to the H1/M15.


EURGBP since December last year moved dynamically to the north. Although these increases have not reached the level of 0.9600, there has been a very strong supply response last month, which could signal the emergence of at least a major downward correction.

EURGBP Monthly

Looking on the weekly chart we will see that declines could reach even vicinity of level 0.8350. This support has been tested several times in the past and if the pair moves in its vicinity, we would expect a demand response there.

EURGBP Weekly

But for that could have happen, we would have to first overcome local support at the 0.8750 level.

EURGBP Daily

However, line of the previous downward trend, which after having been beaten twice has become an important support can also be an additional obstacle.

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EURGBP H4

Looking on H1 chart, we also note that the market is currently in the area of local support, which rejection could trigger a rebound. This would result in a consolidation between 0.8860 – 0.8915 levels.

EURGBP H1

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