EURGBP Low risk trades on both sides.

٢ أكتوبر ٢٠٢٣

EURGBP is consolidating inside a wide Resistance (1) - Support (1) range since May.
Last week, the MA200 (1d) even came into play as a Resistance, rejecting the August bullish leg from breaking over on 4 straight candles.
It did however cross over the Falling Resistance of 2023.

Trading Plan:
1. Sell as long as the (1d) candles close under the MA200 (1d).
2. Buy if the top of Resistance Zone (1) breaks.

Targets:
1. 0.85500 (over Support 1).
2. 0.88750 (Resistance 2).

Tips:
1. The MACD (1w) has formed since mid September a Bullish Cross. Being on the bearish side, it is a strong sign of bullish potential.

Please like, follow and comment!!

Notes:
Past trading plan: