Buy above 0.8921.
Stop loss at 0.8889.
Take profit at 0.8983.
Reason for the trading strategy (technically):
EURGBP is approaching its support at 0.8921 (100% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.8983 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its support at 3% where a corresponding bounce could occur.
Stop loss at 0.8889.
Take profit at 0.8983.
Reason for the trading strategy (technically):
EURGBP is approaching its support at 0.8921 (100% Fibonacci extension, 61.8% & 23.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.8983 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its support at 3% where a corresponding bounce could occur.