There is a good opportunity to enter long on this pair just waiting for a retest on the daily demand zone and look for bullish candle confirmation.
Drop down to the lower time frame and enter a long on the pair.
The potential risk to reward ratio on the trade will be a 1:2 ratio.
Lets see what happens near the end of Friday!
There is a possibility of temporary retracement to suggested support line (0.8769). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURGBP is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI...
Looking for positive reaction from the .382. Entering long from that price.
May see the inverse head and shoulders pattern develop from this.
Majority retail traders are entered in short positions, so hopefully another rise higher before any more decline.