Our preference: sales position below 0.8850 with targets at 0.8775 & 0.8745 in extension. Alternative Scenario: In excess of 0.8850, aim for a continuation of the rise with 0.8870 & 0.8900 in line of sight. Comment: The RSI is badly oriented
For the past several days, the EURGBP pair has been trading on a descending triangle. As what the formation suggests, a downside is imminent from this day forward despite the spike up. I actually had a long setup at 0.86020 wherein an inside bar pleasantly formed just about the 200sma along with a huge bullish pin bar as the mother bar. I've drawn a second...
Upside Target 0.87569 ////////////////////// Downside Target 0.84345 //////////////////////
PRICE ON SUPPORT LEVEL AND ALSO RETESTING TRENDLINE, WE CAN SEE FORMATION OF ENGULFING CANDLE WE CAN GO LONG ON 50 PERCENT RETRACEMENT OF ENGULFING CANDLE, GOOD RISK REWARD RATIO ...
Note: EUR/GBP follows our prediction previously. Now, we remain NEUTRAL on this pair. There are 2 potential trading plans: 1. If the price break the support zone strongly, we can wait for pullback and bearish signal to short with right risk 2. We saw 1 bullish signal previously, we need to wait for another 1-2 bullish signals to entry long
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