Hello,
Lets look at EURGBP 4 hour chart.
Entry 0.91801
SL 0.9122
TP 0.93
why?
if we look at the chart, we can see that 0.913-914 level provides a strong support and EURGBP bounced off that level several times.
Also if we look at 11/14/15/17 August, 0.913/14 level was the resistance level which got tested several times before got broken through on 21/8/2017. if it fails to hold this level, the price will be likely to fall to 0.898 level. But my bias is bullish, as businesses and investors are transferring their resources from the UK to other European countries due to Brexit.
Patience pays!
Lets look at EURGBP 4 hour chart.
Entry 0.91801
SL 0.9122
TP 0.93
why?
if we look at the chart, we can see that 0.913-914 level provides a strong support and EURGBP bounced off that level several times.
Also if we look at 11/14/15/17 August, 0.913/14 level was the resistance level which got tested several times before got broken through on 21/8/2017. if it fails to hold this level, the price will be likely to fall to 0.898 level. But my bias is bullish, as businesses and investors are transferring their resources from the UK to other European countries due to Brexit.
Patience pays!
Trade closed: stop reached