Two in One - Breakout of a Downtrend and an Inverted H&STarget is predicted at 0.80500 = 500 pips. Good Luck!
Eurgbpbullish
Today's ChartThe primary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7665 and support at the level of 0.7525. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY
EUR/GBP is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra-day to mid-term positions in it.
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EURGBP Long termAt resistance channel its best opening for bearish to follow the trend. Bearish target at any price at support trendline with Stop level above bullish key level or at 0.8090.
If bullish keylevel break up, reverse order and take long position with target 0.8400. and stop level at 0.8032. (risk/reward ratio 5)
resistance channel merupakan tempat ideal untuk entry short posisi dengan target di harga berapapun saat menyentuh support trendline dan stop level diatas bullish keylevel atau pada 0.8090
Apabila terjadi break up pada bullish keylevel, balik posisi menjadi buy dengan target pada 0.8400, dan stop level pada 0.8032 (risk/reward ratio : 1:5)
