FX.co ★ EUR/GBP Price Movement For May 05, 2020

According to the 4-hour chart, the EUR/GBP is now moving into the liquidity void at the low resistance liquidity area. It makes sense to open short positions (the blue rectangle). The pair aims at 0.8702 as the target is going to be tested. However, there is an imbalance area (the black rectangle), so the pair will hold its downward movement to 0.8738-0.8730 if the price can break out this level. If so, the price will be ready to go down to 0.8702.

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