Looking at the 4hr chart we can see this currency pair has previously respected a support level @ 0.8715 in recent weeks and has once again retraced off it. Furthermore, the RSI shows that EUR has been oversold (@ 31.2) in relation to GBP, implying we could see a rally over the next few days.
LONG ENTRY @ 0.8725
SL @ 0.869
TP @ 0.8795
RR @ 2
LONG ENTRY @ 0.8725
SL @ 0.869
TP @ 0.8795
RR @ 2
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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.