EURGBP LONGS
PREVIOUS EURGBO HIGHLIGHTED A POSSIBLE CHANNEL PLAY WHICH WAS A SUCCESS. DOWNSIDE TARGET WAS ACHIEVED
IT LOOKS AS SUPPORT HAS BEEN FOUND AT OUR DOWNSIDE TARGET ZONE AND NOW A BULLISH LEG TO THE UPSIDE TARGET ZONE WILL HAPPEN.
A BREAK OF THE COUNTER TREND LINE WILL SIGNAL LONGS IF WE BREAK THE PRICE DECELERATION ZONE I CAN SEE UPSIDE TARGET ZONE BEING REACHED
IT LOOKS AS SUPPORT HAS BEEN FOUND AT OUR DOWNSIDE TARGET ZONE AND NOW A BULLISH LEG TO THE UPSIDE TARGET ZONE WILL HAPPEN.
A BREAK OF THE COUNTER TREND LINE WILL SIGNAL LONGS IF WE BREAK THE PRICE DECELERATION ZONE I CAN SEE UPSIDE TARGET ZONE BEING REACHED
The Price Acceleration/Deceleration Zone will be key in determining where this goes next. If price stalls here and we see a break of the counter-trend line we should see upside target zone achieved.
If the Price Acceleration/Deceleration Zone fails to hold we should see the pair returning to the lower bounds of the channel and downside target zone and possibly breaking the channel.
For more detailed information on how we identify trade set ups, entry ,exit points and how we manage trades and how you can take advantage of the markets like us at EZinvesting feel free to message! Follow us for updates on future trades!
Related publications
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.