The Euro British Pound.

Good evening Dynamic Traders,

Tonights chart to keep a close eye on is the EURGBP on the daily timeframe.

Todays price action has produced a nice doji candle at the time of writing which indicates indecision in this pair.

Also to tie in with this, is that since the middle of June price has been going up but not taken out the DT of January to March, and price is currently standing at a fibonacci cluster and figure area together with an OB RSI indicator.

Since the trend is up for the past three months and as you know the trend is your friend, I am awaiting further confirmation with other confluences before taking a short entry as I am expecting some sort of reversal/retrace, as strength does seem to be failing in this pair.

However as mentioned I will be trading against the trend and so will manage very closely should I get entered.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.