EURGBP H1 LONG PRICE ACTION FORECAST

Bulls' rally of the Eur vs. the GBP, price action has encountered some resistance at the 200MA as expected. In case the uptrend momentum can continue its bullish bias, a buy-stop entry is placed above the SMA, which is working as a dynamic resistance onto the price action.

A second buy entry (as limit) can work right at the support line form the uprising channel. However, in my experience, the 200 MA is usually a strong level, which is better to consider before entering the market. I'd rather wait for the uptrend continuation after the breakout from the 200MA

Setup for: S/L: 20 pips - R:R | 1:2 - T/P aiming to next resistance as a red dashed line.

Trade active

Buy-stop order triggered.

Half position closed with S/L moved to BE. Free risk ride.

Trade closed: target reached

T/P level reached

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