$EURGBP #EURGBP waiting for the Trade like a Ninja in the Dark

Long

Euro / British Pound (FX_IDC:EURGBP)

FX_IDC:EURGBP Euro / British Pound

trendanalysis indicator chartpattern eurgbp forex forextrading technicalanalysis forextrader trading eurgbplong eurgbpshort

$EURGBP is on a Makro Perspective since weeks in an Sideways Channel, giving no real indication on Makro-Trend. This Pair is currently in a No Trade Zone. A further Retracement and continuation of the Pullpack to (3DayChart) 377EMA or 0.786 Fib Level is more likley. The 0.9094 Resistance align with the 0.236 Fib level could be again Retested on the Way Down.

As sitting Basicly in the Middle of a Huge Range between 0.83 - 0.93 we have to place our Alerts near Support /Resistance or Key Fibonnaci Levels and Manage our Trades and Risk From There.

I don't feel comfortable placing short Trades because we already finished a 50% Pullback from last Runup and the possibilities are quite high that we might go Sideways for days and Weeks where we don't want to be caught inside.
The 3Day Stoch is currently in the Baerish Control Zone and Still Pointing down but a crossup and leaving the Bearish Control Zone could be a useful indication to Time a possible Long Trade of Support.

#EURGBP #FOREX #TRADING #ETORO
===========================
you can follow and copy my Trades on eToro
My Etoro Profile:

Etoro Registration Link:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.