EURGBP Low risk trades on both sides.
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.
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Notes:
Past trading plan:
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:
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