EURGBP: Wait for Confirmation Before Bullish Entry
The EURGBP is testing a critical support level at 0.85 on the daily chart. While a bullish rally seems likely, cautious entry is advised to avoid potential retracements aimed at trapping retail traders.
Key Points:
1. Price dipped close to the 0.85 support zone.
2. Upward move possible, but confirmation is crucial.
3. Wait for a daily candle close above 0.8530 before entering a long position.
4. This will provide a stronger signal of a bullish breakout.
Remember: The market can be unpredictable. Always practice proper risk management and consider using stop-loss orders.
Key Points:
1. Price dipped close to the 0.85 support zone.
2. Upward move possible, but confirmation is crucial.
3. Wait for a daily candle close above 0.8530 before entering a long position.
4. This will provide a stronger signal of a bullish breakout.
Remember: The market can be unpredictable. Always practice proper risk management and consider using stop-loss orders.
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