rf16saun

EURGBP range bound trade set-up to avoid Dollar mess

Short
FX:EURGBP   Euro / British Pound
rectangle range set-up is one of the high potential trade set-ups since December last year, usually it breaks the rectangle to the downside. This pair is in range bound and have already tested the support twice, if price fail to break to the upside then the chances are price will break the counter-trendline and will break below the rectangle support. Wait for RSI to reach over bought region or break of the counter trend line to the downside in lower time frame or a potential upside move if price break the region which seems unlikely at the current price movement.

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.