Yesterday we see significant pound strength off the back of hawkish tones from yesterday’s meeting minutes; Thus I will be looking for shorting opportunities on this pair

EUR/GBP daily chart

Price has hit bullish target of MR2 and is showing signs of a pullback. Pivot point theory states that price should return to MPP coming off MR2; thus I will look for selling opportunities in this current space; as it is resistance. shown in red.

EUR/GBP H4 chart

Price has come off WM3; a bearish entry zone with weekly target of WM1. Price is functioning within a descending channel shown by blue lines. I will look to enter at the top side of the channel, which may coincide with 0.8750 psyche level, alternatively should price bounce off WPP; I will look to sell the lower high.

EUR/GBP H1 chart

Price is currently in the middle of the channel, around the dpp area, I will look to sell in the space between DR1 and DM3; as shown by black lines.

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