EURGBP appears to be a clear long opportunity for us. While many analysts are speculating on a significant decline in its value, we hold the contrary view, anticipating higher highs in the near future.
It is essential to note, however, that EURGBP is currently trading in the premium price range.
Those entering a long position at this point should be prepared for an initial drawdown. Therefore, we recommend exercising patience for a pullback to the buy zone, creating a favorable risk-reward ratio for a long trade.
The target is derived from the peak in April 2023, coupled with the existing buyside liquidity at that level.
It is essential to note, however, that EURGBP is currently trading in the premium price range.
Those entering a long position at this point should be prepared for an initial drawdown. Therefore, we recommend exercising patience for a pullback to the buy zone, creating a favorable risk-reward ratio for a long trade.
The target is derived from the peak in April 2023, coupled with the existing buyside liquidity at that level.