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Eurgbpbullish

EURGBP: Bullish Technicals and Fundamentals 4H (Apr. 21)X FORCE GLOBAL ANALYSIS: In this analysis, we explore the bullish probabilities of EUR/GBP based on the bullish evidence suggested by technicals and fundamentals. Technicals - We have seen a breakout from the bullish falling wedge pattern - After Elliott Triangle Wave (ABCDE) counts to Wave E, we formed a double bottom - The Relative Strength Index (RSI) shows higher lows, as a sign of trend strength - The Moving Average Convergence Divergence (MACD), despite not showing tremendous momentum, shows an uptrend Fundamentals - The United Kingdom runs a large current account deficit, which makes the pound vulnerable as capital flows faded at the height of the Corona Virus (Covid-19) driven risk sell-off - GBP remains fundamentally undervalued with a significant Brexit discount still attached - With the COVID-19, both the EU and the UK have been preoccupied with issues other than Brexit trade agreement talks; this increases the risk of a big negative UK trade shock in 2021 What We Believe We believe in a higher probability for a further bullish rally for EUR/GBP based on the bullish technicals and fundamentals Trade Safe.
Long
by XForceGlobal
EURGBP LONGHello! How is your weekend? I hope everything is fine and you are safe! So the market opened with a small gap and the price is moving up. I'm looking for an opportunity to buy as you can see in the chart. I will wait for some confirmation: 1. The price will break the trend line; 2. The price will bounce few more times to support level; 3. High momentum to UP Let's see how it plays. Risk ratio 7:1, really good opportunity. DISCLAIMER: This is my personal opinion and view of the market, trade at your own risk. Use proper risk management and trust the process.
Long
by bagdisb
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