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JackTheTrader

Medium Term - EURGBP Long @ 0.8725

Long
Euro / British Pound (FX:EURGBP)  
JackTheTrader  
FX:EURGBP   Euro / British Pound
Support and Resistance
0
0
supportandresistance
Looking at the 4hr chart we can see this currency pair has previously respected a support level @ 0.8715 in recent weeks and has once again retraced off it. Furthermore, the RSI shows that EUR has been oversold (@ 31.2) in relation to GBP, implying we could see a rally over the next few days.

LONG ENTRY @ 0.8725
SL @ 0.869
TP @ 0.8795
RR @ 2
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