VasilyTrader

EURGBP: Trend Following Trading Plan

Long
FX:EURGBP   Euro / British Pound

hey guys,

though during the last few weeks EURGBP remains quite weak,
we should remember that technically the trend is still bullish and the market keeps growing within the expanding wedge pattern.

during the current trading week, we saw a false violation of the support of the wedge .
trading for a couple of days below that, bulls have managed to return back the price with a high momentum bullish candle.

from the current perspective, it looks like a bullish continuation is highly probable.

to catch it look at 0.905 4h structure resistance cluster.
let bulls break it and buy bullish breakout.

our next goals will be:
0.908
0.911

in case of a new bearish breakout of the wedge , setup will be invalid.