[Signal] EURGBP: Covering of EUR shorts a Big Possibility
EURGBPTimeframe: 1D
Direction: Long
Confluences for Trade:
- Waning bearish momentum
- Stochastic Oversold momentum
- Price action bounced off a Horizontal SupportTrendline
- Fundamentally, weakness in the GBP is explained in the GBPUSD post in Related Ideas and the impact of Brexit will be more extensive for GBP in comparison with EUR.
Suggested Trade:
Entry @ Area of Interest 0.8540 - 0.8650
SL: 0.8447
TP1: 7.8747
TP2: 0.8888
RR: Approx. 2.10 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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