EURGBP POTENTIAL LONG
Updated
Bearish AB=CD Pattern completed
Bearish AB=CD potential [starting at point C]
Could carry on pattern
Price as recently rebounded of the .618 fib level which is also a resistance turned support
Entry order between rices 0.758 & 0.761
Price could break through .618 structure
Trend channel could be tested between 0.757 & 0.762
Look to go long if above is met
Bearish AB=CD potential [starting at point C]
Could carry on pattern
Price as recently rebounded of the .618 fib level which is also a resistance turned support
Entry order between rices 0.758 & 0.761
Price could break through .618 structure
Trend channel could be tested between 0.757 & 0.762
Look to go long if above is met
Note
*CORRECTION*Price has rebounded of main structures within AB=CD pattern
Confluence with fib ratios and trend line caused price to push upward and resume uptrend momentum
Early Entry at 0.7611
Stop loss at 0.7568
Target 1 at 0.7669
Initial R:R at 2.26
Target 2 at 0.7705
Target 3 at 0.7746
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