Trade Idea: EURGBP Corrective Structure – Bearish, Looking For Breakout | Oct 23

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EURGBP – Bearish Price Action + Corrective Structure, Watching For Breakout (1 hour chart)

Price Action Context

Selling off consistently over the last few days, the EURGBP forex pair is stuck inside a corrective structure between 8572 and 8712. 

I’ll be looking for a breakout setup to get short or long on a potential reversal.

EURGBP corrective structure 2ndskiesforex

Trending Analysis

ST bearish while below 8715 on a daily closing basis and MT bearish while below 9008 on a weekly closing basis.

Key Support & Resistance Levels

R: 8715, 9008

S: 8572, 8500

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