EURGBP bleeding out to multi-month lows, anyone eyeing support?

[Christopher Vance 29]

Morning guys, just watching the carnage on EURGBP this morning as it drops to the worst levels we've seen since late May. Between that widening French-German yield spread messing with the euro and the hotter UK CPI giving the pound some serious muscle, the downside momentum is looking brutal. Daily studies are flashing firmly bearish, but I'm trying to figure out where the actual liquidity pools sit right now. Is this a clean break we can fade on a minor pullback, or are order books showing heavy resting bids down at the next major support zone? Curious how you lot are playing this short-term trend without getting caught in a nasty liquidity sweep.

 

[LeoSterling]

Been watching this bleed for days. Honestly, don't try to catch a falling knife here, the trend is absolute carnage. I'm waiting for a clean retest of the .8300 handle before I even think about longing this disaster. Stay safe, don't get rekt.

 

[ArthurByte]

I'm waiting for a clean retest of the .8300 handle before I even think about longing this disaster.

Waiting for .8300 is how you miss the displacement, man. We just tapped a massive daily order block and the sell-side liquidity has been completely purged. I’m already looking for a 15m market structure shift to go heavy. If we get a clean candle closure above that internal FVG, I'm longing this with zero hesitation. Fortune favors the aggressive when the institutions are clearly loading up.