EurGbp may have found the bottomSince the beginning of 2022, EurGbp has tried to drop under 0.83 on 5 occasions and each time reversed.
A bottom can be in place for this pair and a rally to 0.85 resistance can follow.
In my opinion, dips should be bought with that target in mind and only a clear break under 0.83 would change my bullish opinion
Eurgbpbuy
EURGBP trend continuation ideasPrice is in a downtrend but don't be fooled, many retail orders are stacked up the top ready to be purged. Expect price to reverse in one of the two zones, I vouch for the lower one as institutions have open shorts there and need to be closed first before going up. Trend reversal confirmations needed within the indicated zones before entry. GL
EurGbp strong reversal after BoEYesterday BoE has risen interest rates, this fact only affected EurGbp for the moment, with the pair dropping to 0.8450 zone but strongly reversing after and closing the day above 0.85 figure and leaving the chart with a very nice long-tailed Pin Bar.
This is a clear indication for me that the market already priced in this rase and the road for EurGbp is in fact up.
My target for buy trades is 0.8650 resistance and only a new low under yesterday's one would change my opinion