The EURGBP pair hit today the 0.88315 Resistance (November 09 High) after recently breaking above the 1D MA50 (blue trend-line). On our last analysis almost 2 months ago (October 29), we talked about this long term buy opportunity either on the 1D MA200 (orange trend-line) or the 1D RSI Support Zone:
Both conditions were met, so if you got positioned then, you may book the short-term profit now and re-buy if/ when the price breaks above the Resistance. The long-term pattern remains a Bullish Megaphone since the March 07 Low. As previously mentioned, since the previous Higher Highs were made after breaking the 1.5 and 2.5 Fibonacci extension levels respectively, we can assume that the next one will be on the same progression, i.e. the Fib 3.5, which is currently at 0.92835. This is our long-term target.
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁