Last time we looked at the EURGBP pair (May 30, see chart below) we gave the most timely buy signal right at the bottom (Higher Lows trend-line) of the Bullish Megaphone, and the price is only a few candles away from the 0.87400 Target:
If we look at the price action from a 4H perspective we can see that it is a Channel Up that has been driving the pair upwards since the May 28 bottom and today's rebound is taking place after a direct hit on the 4H MA50 (blue trend-line).
This is the start of the new Bullish Leg. Since the previous two have increased by +1.90%, this rally has the potential to even exceed our 0.87400 Target marginally. Still, this is a perfect bullish set-up.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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If we look at the price action from a 4H perspective we can see that it is a Channel Up that has been driving the pair upwards since the May 28 bottom and today's rebound is taking place after a direct hit on the 4H MA50 (blue trend-line).
This is the start of the new Bullish Leg. Since the previous two have increased by +1.90%, this rally has the potential to even exceed our 0.87400 Target marginally. Still, this is a perfect bullish set-up.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.