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FBSAnalytics
Oct 11, 2021 1:53 PM

EUR/GBP: long trade Long

Euro Fx/British PoundFXCM

Description

Trade: Long
Target 1: 0.866
Target 2: 0.872
Target 3: 0.887


It looks like the same thing happens here on EUR/GBP chart for the third time. We can see how the price is consolidating in the "buy zone", while the RSI is slightly going up. The previous two times these consolidations were followed by a pump and we do not believe this case will be an exception.


P.S. On the global chart, the RSI has formed a triangle and the chart is getting squeezed to the upper border. After the breakout, a big explosion will happen. The global target for this currency pair is 92.2.
Comments
PejiKian
Do you mind asking me which RSI indicator you are using on the 4h chart?
FBSAnalytics
@PejiKian, Hi. Just a regular one. 14 period.
PejiKian
I agree with your analysis.
initialjie
bull trap, dont buy this garbage
Al_Y
Thanks for sharing
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