Long

EURGBP Near a buy break-out signal

The EURGBP pair is testing the top (Lower Highs trend-line) of a short-term Channel Down inside a 1 year Channel Up pattern. The previous two such patterns gave a buy signal when a 1D candle close above them. If that happens, we will buy and target Resistance 1 (0.89800). Our trading plan involves selling at the top of the Channel Up (Higher Highs trend-line) if a 1D candle closes below it and target 0.88000 (the 1D MA200) and buy if a 1D candle closes above it (target Resistance 2 at 0.92800).

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