EURGBP - Still looking to buy dips (today)

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EURGBP - Intraday - We look to Buy at 0.8916 (stop at 0.8891)

Selling pressure from 0.8992 resulted in all the initial daily gains being overturned. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Price action has formed an expanding wedge formation. The trend of higher lows is located at 0.8906. Bespoke support is located at 0.8916. Although the anticipated move higher is corrective, it does offer ample risk/reward today.

Our profit targets will be 0.8975 and 0.9000

Resistance: 0.8975 / 0.9000 / 0.9042
Support: 0.8916 / 0.8906 / 0.8826

Trade active:

Bounced. Stop to open

Trade closed: target reached