Get started
hzs

Looking to Long EURGBP on Probable Double Bottom

Long
Euro / British Pound (FX:EURGBP)  
hzs Updated   
FX:EURGBP   Euro / British Pound
Trend Analysis Chart Patterns EURGBP brexit euro pound BOE ratedecision Double Bottom analysis currency
6
0
trendanalysis chartpattern eurgbp brexit euro pound boe ratedecision doublebottom analysis currency
Overall uptrend on D1 TF. Looking to long if retest at 0.8744. ISL: 0.8724 (20pips), FTP: .9091 (Fibo R 61.8)

Thursday BoE rate decision will see a volatilty in pound. GBPUSD will see a obvious down or up trend.
If there is a rate hike, EURGBP will break below 0.8744 and this analysis will be invalid.
If is a surprise unchanged rate decision, euro will rebound and strengthen against pound

The reward to risk for this analysis is 17: 1
Comment:
If D1 candle close below I will look for short opportunity bc of descending triangle pattern
Comment:
D1 candle closed above 0.8744. waiting for retest or HH and HL to long
Comment:
Looking to long at Fibo 61.8. FTP is abcd pattern
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.