2018Oct08 EURGBP D1 Bullish AB=CD

FX:EURGBP   Euro / British Pound
EURGBP has recently broken the long term trendline support and a bullish AB=CD has been completed. D completion at 0.87749 is within a potential reversal zone between the 127.2 and 161.8 Fibonacci extension level of leg CB . The confirmation of the bullish bias is a candlestick breaking and closing above the short term trendline resistance on H1 timeframe. Thus, I am placing a buy limit at 0.88043. Stop loss is just below the 161.8 Fibonacci extension of leg CB . The take profit target is set at the 38.2 Fibonacci retracement level of leg AD. I will cancel the pending order if price goes to TP1 before it gets triggered. Trade details are as follows:

Trade Setup: Bullish AB=CD
Price Entry 0.88043
SL 0.87512 | SL pips 53.1
TP1 0.88986 | TP1 pips 94.3
RRR1 1.78
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