EURGBP: Trading Plan

2020年4月29日

morning guys!

EURGBP is stuck on a key structure support level.

yesterday, once the market reached it, the price has started to consolidate and formed a classic candlestick pattern - inside bar.

0.8718 - 0.8688 is our current decision range.
six 4H candles are already within that range and to clarify the future direction of the pair we are looking for a breakout.

though the range can be broken to both sides I will be looking for a pullback trade and wait for a bullish breakout of the range (4H candle close above) to buy aiming at 0.8748 as the initial target.

however, in case of a bearish breakout, you can short freely and aim at 0.865 - next structure.

good luck!