EURGBP Stuck On Key Weekly Structure!

May 2, 2020

hey guys,

for the entire month of April EURGBP is trading in sideways.
the pair is stuck in a wide 0.868 - 0.883 trading range.

the support of the range is based on a key weekly level.
the resistance of the range is based on a daily structure.

if you are a swing trader, the best option is to wait for a daily violation of the range:

in case of its bullish breakout, the price will keep growing and the next strong structure will be 0.09 level (daily and weekly match).
in case of a bearish breakout, we will expect a bearish continuation to 0.857 - daily structure and 0.850 - weekly structure.

good luck!