Last time we took a look a the EURGBP pair (July 11, see chart below), we gave a buy signal inside the Channel Up, which quickly hit our 0.87400 Target:
This time the price has found itself on a decline, the latest Bearish Leg of the Channel Up. The previous two declined by -2.75% before bottoming and reversing. The 1D RSI Higher Lows can be an additional indicator as to where the Low can be priced.
We expect the pair to reach at least 0.85500 before starting the new Bullish Leg, which we believe will extend all the way near the top (1.0 Fibonacci) of the Channel Up. Our Target will be 0.8900.
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This time the price has found itself on a decline, the latest Bearish Leg of the Channel Up. The previous two declined by -2.75% before bottoming and reversing. The 1D RSI Higher Lows can be an additional indicator as to where the Low can be priced.
We expect the pair to reach at least 0.85500 before starting the new Bullish Leg, which we believe will extend all the way near the top (1.0 Fibonacci) of the Channel Up. Our Target will be 0.8900.
-------------------------------------------------------------------------------
** 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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👑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.