EURGBP - BUY setup
EURGBP has been ranging for couple of months now if we are to look from the weekly time frame
From the daily time frame, we can see that price has broken the daily downward trend line - suggesting that price is currently in an uptrend. However, price is hovering within a daily supply zone (although not fresh), there's a possible chance that price might retrace from this zone to about 38% retracement level before moving up again.
I will monitor closely the daily demand zone that is the same level as fibo retracement level; and will only enter upon confirmation on the lower TF.
All the best (finger cross)
Renee H
From the daily time frame, we can see that price has broken the daily downward trend line - suggesting that price is currently in an uptrend. However, price is hovering within a daily supply zone (although not fresh), there's a possible chance that price might retrace from this zone to about 38% retracement level before moving up again.
I will monitor closely the daily demand zone that is the same level as fibo retracement level; and will only enter upon confirmation on the lower TF.
All the best (finger cross)
Renee H
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