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Testing D1 Resistance at 9100

Testing D1 Resistance at 9100

The continues to bounce off strong support trendlines on the D1 chart and creates higher highes and lower lows. The price maintains a healthy distance from the D1 WMA at 200 periods indicating the large direction of the pair.

On the 4H chart, EURGBP rests at the 200WMA by a hair and we see that Weiss Waves at lower time frames continues to be bullish . If 9100 is breached, first TP will be at 9200 were the next strong resistance is found.

From a Commitment of Traders perspective, it is evident that institutions have continued to put in more Buys into the Euro so we expect more upward velocity- these are the market movers. Source here



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