EURGBP Potential Long
Updated
After price consolidation, the market has broken out of the rectangle and closed 16 pips above, indicating the return to the uptrend formed before the consolidation.
ADX just before the rectangle indicated a string uptrend was forming - potential to re-enter long positions.
An EMA of 55 shows that there is still a long-term uptrend forming, however stochastic could indicate that the price has been overbought and price is due to drop.
Could price drop before rising?
As always, this is not guaranteed and you should always use your own confirmations before entering a trade.
ADX just before the rectangle indicated a string uptrend was forming - potential to re-enter long positions.
An EMA of 55 shows that there is still a long-term uptrend forming, however stochastic could indicate that the price has been overbought and price is due to drop.
Could price drop before rising?
As always, this is not guaranteed and you should always use your own confirmations before entering a trade.
Trade closed: target reached
Price reached the profit target.
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