The EURGBP is testing a critical support level at 0.85 on the daily chart. While a bullish rally seems likely, cautious entry is advised to avoid potential retracements aimed at trapping retail traders.
Key Points:
1. Price dipped close to the 0.85 support zone.
2. Upward move possible, but confirmation is crucial.
3. Wait for a daily candle close above 0.8530 before entering a long position.
4. This will provide a stronger signal of a bullish breakout.
Remember: The market can be unpredictable. Always practice proper risk management and consider using stop-loss orders.
Key Points:
1. Price dipped close to the 0.85 support zone.
2. Upward move possible, but confirmation is crucial.
3. Wait for a daily candle close above 0.8530 before entering a long position.
4. This will provide a stronger signal of a bullish breakout.
Remember: The market can be unpredictable. Always practice proper risk management and consider using stop-loss orders.
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.
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.