Two Sell opportunities on this chart for EURGBP

Sep 16, 2020

Mid-Term Forecast

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.918). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. EURGBP is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.

Take Profits:
TP1= @ 0.9060
TP2= @ 0.8970
TP3= @ 0.8860
TP4= @ 0.8685
TP5= @ 0.8475

SL: Break Above R2

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Short-Term Forecast

Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9175). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. EURGBP is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.

Take Profits:
TP1= @ 0.9105
TP2= @ 0.9060
TP3= @ 0.9015
TP4= @ 0.8965
TP5= @ 0.8865

SL: Break Above R2

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