EURGBP is consolidating inside a wide Resistance (1) - Support (1) range since May. Last week, the MA200 (1d) even came into play as a Resistance, rejecting the August bullish leg from breaking over on 4 straight candles. It did however cross over the Falling Resistance of 2023.
Trading Plan: 1. Sell as long as the (1d) candles close under the MA200 (1d). 2. Buy if the top of Resistance Zone (1) breaks.
Targets: 1. 0.85500 (over Support 1). 2. 0.88750 (Resistance 2).
Tips: 1. The MACD (1w) has formed since mid September a Bullish Cross. Being on the bearish side, it is a strong sign of bullish potential.
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