EURGBP - Buy Opportunity on the Breakout
We've been talking about EURGBP since last week, althought we only had stop orders that were never triggered because the price went in a different direction.
This time, it looks like buyers have enough strength to break the level we were monitoring:
There's only one other level to break: the resistance around 0.9158, highlighted in red in the chart.
Overall, I think it is a good opportunity to enter right now, with buyers that seem to be very strong and with a first breakout of the most important level that we had on the chart.
The trade also offers the opportunity to place a convenient stop loss below the support and a take profit slightly higher than an important swing high we had in the past.
Enjoy the trading day!
This time, it looks like buyers have enough strength to break the level we were monitoring:
There's only one other level to break: the resistance around 0.9158, highlighted in red in the chart.
Overall, I think it is a good opportunity to enter right now, with buyers that seem to be very strong and with a first breakout of the most important level that we had on the chart.
The trade also offers the opportunity to place a convenient stop loss below the support and a take profit slightly higher than an important swing high we had in the past.
Enjoy the trading day!
Trade closed: stop reached
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