EURGBP possible short opportunity. Interesting area

Hello there!

EURGBP is getting to a very interesting area. The pair has been consolidating since mid December but it is looking like is ready to break those lows and continue the downtrend. Here are the reasons :

1) Price has stayed below MASAR most of the time

2) Price is now under Kijun Sen

3) Didi index and QQE has turned bearish

4) Although the price has been consolidating and had minor rallies we see that those have been provoked by retail traders and not institutional traders and therefore they lack strength. We see that because of the lack of red columns and the increase of green candles on rallies in our bottom indicator

5) Trend meter has just become bearish. That is a big sign especially because the price remains neutral

We still have a couple burdens though :

1) Price is still above SSL line

2) Price is sitting right at support. Once it breaks it the downtrend will probably continue. We cannot rule out a bounce higher from here though

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