We're expecting EURGBP to continue trading within the range after seeing two bullish candlesticks on daily closes over the last two days. We took this trade in November expecting a further push but only had a couple of take profits hit. We've now revised this to take profits on the way up to the top of the range. Price is currently trading at bottom of the channel and we can expect this rise to take place over the coming weeks. trading a rejection or false breakout of trendline is the safest entry with the highest probability for this trade. GBP is pushing its limits at the top of momentum meter so we expect GBP to weaken in the coming weeks.
R:R = 1:4:5
GL.
R:R = 1:4:5
GL.