EURGBP has reached major daily structure support.
In 2020 we saw strong swing moves from that key level.
With a high probability, we will see a similar reaction this time.
To catch a bullish wave, follow a falling parallel channel on hourly.
We need a breakout of its resistance to confirm the shift in the market sentiment.
Only then a long trade can be initiated with an initial goal - 0.8925.
In case if the price drops below the underlined support on daily, setup will be invalid and the pair will most likely keep falling.
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Related publications
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.