EURGBP: A Potential Low Risk High Reward Long?

FX:EURGBP   Euro / British Pound
481 11 17
Analysis on chart!

Potential long opportunity with low risk high reward! I've highlighted three potential targets!

This area has held previously and seems to be strong structure support along with dynamic support! We have harmonic leg completion and fib confluence in this area along with a potential double bottom with bullish divergence on the RSI!

Like, share and comment away with any constructive feedback you have your support means a lot!

Comment: Target 1 would have been hit! We have now broken out to the downside
At least you got a quick pop for T1!
+1 Reply
I'd wait, might actually be a short term short:

+1 Reply
IvanLabrie IvanLabrie
(longer term, daily is in an uptrend, same as weekly...maybe wait for CCI oversold in the daily, or this target I propose here, or a test of the support levels below it.
+1 Reply
IvanLabrie IvanLabrie
SmartTradingFX IvanLabrie
Nice view of it! Good work! Price has broken out to the downside!
IvanLabrie SmartTradingFX
Yes, as expected.
I placed longs lower in EURUSD, in case it did validate that setup.
I didn't take the short, because I believe the long side will give a very significant rally this week.

Might form a reversal around here. Target exceeded.
Very strong support below, if broken, it'd be testing the fibs below, and would give a long with sl at the lowest one. I'd prefer to buy over a daily high, after daily CCI goes under -100.

Good reaction zone to buy at. What do you think?
+1 Reply
SmartTradingFX IvanLabrie
I like your view on it! I also believe we will see a decent rally in the very near future! Thanks for posting! Keep up the good work!
+1 Reply
IvanLabrie SmartTradingFX
The Target 1 was spot on, sometimes we have to take the hit, it was worth a shot.
+1 Reply
SmartTradingFX IvanLabrie
Thats it mate! Just how it goes! I've pulled some pips from NZDUSD and EURUSD today so not too bad! Hows your day been?
IvanLabrie SmartTradingFX
So far so good, not in intraday trades yet.
+1 Reply
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