EURGBP Long Idea
EURGBP has been in an uptrend since late November, just about reaching the 0.86 level. Since the retest of 0.86 the price has fallen by 1%, however, it appears to have just formed support around the 0.85 area. The RSI indicator suggests that the price may rise from here as the levels are extremely oversold, (2). The target of this trade is at the recent near high of 0.86. The stop loss area for this trade is located just below the resistance level of 0.848, at 0.8474.
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