RealistFX

EURGBP - PREDICTION

Long
FX:EURGBP   Euro / British Pound
Okay so in this chart, I want to show you how you could have caught the early move last week, and how we catch the next move here.

Clearly we have very strong support on the Daily timeframe , with the yellow line illustrated with the white arrows how many rejections there has been.

Then, we created a Descending Channel with a stronger pound over November.

However, we then saw a Double Bottom off that strong, key support level .

We've seen the neckline and channel broken, we had an initial retest on the 4hr, which we took an entry on, but I expect to see a deeper correction into 0.89850 for the daily retest which would line up with the third touch of our new bullish trend line to test the 61.8% fibonacci level..


Comments

I’m on long aswell
Reply
BrandonGillespie TRADESBYZION
@TRADESBYZION same. Looking good
Reply