EURGBP: Bullish Idea & Trade Plan
EURGBP is at the critical resistance area around 0.9075
The first impulsive move up is completed followed by the correction. At present, it's creating the second leg up.
The Fibo Extn. 100% coincides with the rising channel top at 0.9250 which is the next target once it breaks above 0.9075 and successfully re-tests it as a support.
The two possible variations of this bullish idea could be:
1. It breaks above the immediate resistance around 0.9075 and completes the second leg up.
2. It ranges between the support at 0.8860 & resistance at 0.9075 for a while and then pushes upward to the target.
Invalidation of this bullish setup would be the break below 0.8860
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
The first impulsive move up is completed followed by the correction. At present, it's creating the second leg up.
The Fibo Extn. 100% coincides with the rising channel top at 0.9250 which is the next target once it breaks above 0.9075 and successfully re-tests it as a support.
The two possible variations of this bullish idea could be:
1. It breaks above the immediate resistance around 0.9075 and completes the second leg up.
2. It ranges between the support at 0.8860 & resistance at 0.9075 for a while and then pushes upward to the target.
Invalidation of this bullish setup would be the break below 0.8860
GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
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