EUR-GBP TREND CONTINUATION BUY OPPORTUNITY
EUR-GBP PAIR HAS BROKE 0.8870 LEVEL OF RESISTANCE AFTER TRADING IN CONSOLIDATION FOR ALMOST A MONTH (14-APRIL-2020 TO 15-MAY-2020).
PAIR IS IN BULLISH TREND ON LOWER TIME FRAME (H-1) AND CURRENTLY IN COMPLEX PULLBACK FORM. CHART MAY FORM ADVANCED PATTERN (BULLISH BAT FORMATION) AT PREVIOUS STRUCTURE RESISTANCE, WHICH MAY ACT AS SUPPORT SINCE IT HAS BEEN BROKEN.
SO, TRADERS CAN LOOK TO GO LONG WITH TREND WITH BULLISH BAT AS REASON FOR ENTRY.
BUY ENTRY: 0.8930 (BULLISH BAT PATTERN)
STOP LOSS: 0.8908
TARGET-1: 0.8955
TARGET-2: 0.8972
ALTERNATIVELY LONG TERM TRADERS CAN SHOOT FOR HIGHER TARGETS (0.9000, i.e. RETEST OF LAST STRUCTURE RESISTANCE) OR BEYOND THAT FOR EXTENDED TARGETS.
PAIR IS IN BULLISH TREND ON LOWER TIME FRAME (H-1) AND CURRENTLY IN COMPLEX PULLBACK FORM. CHART MAY FORM ADVANCED PATTERN (BULLISH BAT FORMATION) AT PREVIOUS STRUCTURE RESISTANCE, WHICH MAY ACT AS SUPPORT SINCE IT HAS BEEN BROKEN.
SO, TRADERS CAN LOOK TO GO LONG WITH TREND WITH BULLISH BAT AS REASON FOR ENTRY.
BUY ENTRY: 0.8930 (BULLISH BAT PATTERN)
STOP LOSS: 0.8908
TARGET-1: 0.8955
TARGET-2: 0.8972
ALTERNATIVELY LONG TERM TRADERS CAN SHOOT FOR HIGHER TARGETS (0.9000, i.e. RETEST OF LAST STRUCTURE RESISTANCE) OR BEYOND THAT FOR EXTENDED TARGETS.
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