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EURGBP Bearish Pin Bar in Focus

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We start today’s commentary with a familiar setup in EURGBP. I mentioned this wedge on Friday of last week, noting that we were looking for bearish price action on a retest of former wedge support. The pair finished yesterday with a bearish pin bar below the key level.

As we move closer to the holidays I don’t expect a lot of movement with this pair, or any pair for that matter. That said, I do like this pair lower. There’s some minor support around .7800, however a retest of .7765 is certainly possible.

Summary: Opportunity to sell today’s bearish pin bar. Support comes in at .7800 and .7765.

EURGBP daily forex chart

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