welcome to another free signal!
Important: Wait for the breakout of the triangle and trendline before you buy!
Buy here: 0,91689
Target 1: 0,91950
Target 2: 0,92081
Target 3: 0,92351
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GBP Gained some strength and as a result, we saw EURGBP fall. Price is showing potential to retrace and re-test recently broken support before it continues bearish.
Grey line - Entry
Green line - Take profit
Red line - Stop loss
The eurgbp above the important moving average lines (200,100,50).
The above upward trend has been going on for about 3 years and there are no technical signs of a change in the trend.
The eurgbp crossed its resistance this week at 0.9038 and is on the way to test its next resistance at 0.9284
I usually like to trade a currency that is clearly stronger than the other but in this case, with both currencies having individual issues I am going to go with EUR as the base and GBP as the quote currency.
Trade plan is pretty straight forward with this Gartley harmonic Pattern.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 0.9190
• Take Profit Level: 0.9280 (90 pips)