EURGBP at multi-year Support. Low-risk, Big reward Buy set-upPersistent Euro weakness has pushed EURGBP to it's yearly lows. However, price has rebounded from a very strong support zone as indicated in my chart.
So, traders can look for Long entries at 0.8290-0.8330 with SL below 0.8200.
Traders can take profit at 0.84, 0.8550,0.8780 and 0.93.
Eurgbpidea
#EURGBP, Are we nearing the end of the current wave of declines?A Stochastic indicator on line 7 signals the end of the declines.
The RSI is also very low on line 40, almost at the level it had in April when the eurgbp rose from 0.85-0.94.
The support line at 0.8520, 100 pips lower than the current price.
Buy in the support line area with a target of 0.8720 or buy now with the same target price (slightly higher risk)
Analysis before the next move of #EURGBPAfter the powerful Double Top, we analyzed and which led to the strong declines, its good time to analyze again.
The decline in a daily graph (Weekly and monthly still uptrend).
You can see that the price stopped exactly on the moving average line which serves as strong support.
The Stochastic with the lines at the cross, at the lowest possible level with an upward direction.
Buy signal with a target to 0.8940