FX:EURGBP   Euro / British Pound
89 1 4
For my previous post of EURGBP             see below:



It seems that the anticipated wave C lower is in progress and we could sell the break after a consolidation on lower time frames. However the impulse on 4 hr             was bullish and after this consolidation on 4 hr             I like to watch for the bullish break and BUY EURGBP             .

My long term view see below:

snapshot


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I was looking for a last leg lower in the shape of a wave C. However price moved lower but not as far as I anticipated and I was therefore stopped out at Break-even.
Nevertheless we were looking for a bullish break and therefore I entered long at the continuation higher. My stop-loss is at BE and I expect at least a new high.
If we won't see a new high this most likely turns into a more complex corrective pattern where the lower levels will be tested after all.

snapshot
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