4h clean chart is showing Double bottom.

eurgbp-4h

Now price just tested blue trend line from above. There is also 0.7075 support. Although I wanted to see, that price will “hug” trend line a bit more it could be that this test was enough that price will head up from here. 4h Stochastics is still in oversold territory, so it could be that price will still come down, retrace on last 4h Pin bar, retest of 0.7075 support and then head up. Those who trade end of the day candles are waiting to see how todays candle will close, for others who trade also intraday, they will look for entry on 4h and 1h charts.

Looking 4h chart with pivots, we can see that price is currently trapped between WPP and MPP. So I’m inclined more to an option that price will test MPP again, reject it and then head up. That option I also marked on bellow chart.

eurgbp-4h-pivot

There is no red EU news in future 24 hours, in UK we have CPI y/y news tomorrow.

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