Indications that the Bullish Momentum on EUR/GBP is about to End
The 5%ers' Blog
If we look at the 1H chart, we can see the EUR/GBP is in strong and long bullish momentum.
This indicates that this bullish momentum for EUR/GBP is about to end and is also the combination of the supply above and the CCI divergence.
In the 1D chart, we can see the price is just about to hit the supply above. This supply seems fresh and it’s the first time that the price will touch it.
In the 1H chart, we can see a clear divergence between the CCI and the price. While the price creates a higher high, the CCI indicator creates a lower high, the combination of the supply and the divergence creates a great opportunity for sell position at the supply above.
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