Good evening everyone,
Eurgbp has been on a almost sideways and slighty bearish channel for some months now, now it looks like a rejection on the bottom of the channel.
We can see double bottom pattern on daily chart.
However the price os overextended on faster timeframes and therefore is a smart choice to wait for a pullback and rejection before going long.
Never try to anticipate the market, just wait for it =)
IF the pullback and rejection happen we can try to aim .87500 level which is the middle of the big channel, weekly R1 and 50 ema and daily SMA200 , S.L under .85400 zone .
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Eurgbp has been on a almost sideways and slighty bearish channel for some months now, now it looks like a rejection on the bottom of the channel.
We can see double bottom pattern on daily chart.
However the price os overextended on faster timeframes and therefore is a smart choice to wait for a pullback and rejection before going long.
Never try to anticipate the market, just wait for it =)
IF the pullback and rejection happen we can try to aim .87500 level which is the middle of the big channel, weekly R1 and 50 ema and daily SMA200 , S.L under .85400 zone .
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
As written before a pullback happened and now its a proper time to look at price action and search for a good long opportunity
Comment:
Price retesting current support, a triple bottom can happen but we must wait confirmation.
Comment:
Despite the price rejected the support today is a risky day to trade GBP because of brexit news soon , so, be careful with pound =)
