EURGBP seems to be leaving the bearish channel. We can see multiple signals that confirm there's a possible trend reversal coming up, leaning to bullish:Strong signals
1. The chart retested the strong support area around 0.8866
2. There's two higher lows (HL) a third one would me the confirmation even stronger
Weak signals
3. The chart is grinding the lower band which could mean an upward move is imminent
4. MACD shows that K% is nearing D% which could mean a trend reversal leaning to bullish
5. Stochastic RSI shows price was oversold recently
Trade setup
Entry: 0.8877
Stop loss: 0.8812
Take profit: 0.9149
Risk reward ratio: 4.17
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.