EURGBP has been just touching and retracing from the daily 50EMA recently for about 3 times.Using fibo retracements as indicators of support and resistance zones shown by the grey rectangles, I'm looking to long
EURGBP with SL just below the support zone and TP just below the resistance zone.Risk to Reward at about 1.7, I'm fine with that.
RSI looks downward sloping, but the 4H chart looks alright.
Let's see how this trade goes next week.
Have a blessed weekend =)
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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.