EURGBP Technical AnalysisTechnical AnalysisTrade Setups

EURGBP Technical Overview and Short Opportunity

EURGBP Technical Overview and Short Opportunity

EURGBP trading sideways in a 40 pips range. The pair tested the ascending trendline and pulled back. A firm breakout of the channel and 0.88800 support  will carry the price 0.88500 and 0.88300.

On the upside 0.89450 resistance tested twice.

H1 and H4 readings are bearish.

A short trade with good riskk reward ratio @0.89100 with stop loss 0.89250 targeting 0.88800 and 0.88500

Shorts can be added at the brarkout of 0.88800

 

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURGBP: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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