EURGBP 60 PIP BUY

3 Kas 2020

Looking at a 60 pip rise on EURGBP . Price is currently situated at the 0.368 fib level, alongside this we also have an intersection of two trends. The trend line showing bullish momentum i believe will have the upper hand due to the strength of the overall trend. Furthermore in perspective it is also forming a long term pennant , however due to the strong bullish momentum beforehand i believe this will continue bullish once broken. At this intersection point we have already seen a slight rejection and the RSI (10) showed an oversold condition at this point. Unfortunately 200 EMA is not showing much however with the points stated i can see EURGBP returning to a short term bullish trend to the upside of the pennant to test it once more. Taking this into consideration i will look for further entries. With price situated at the 0.368 fib level and being at a signifcant point in two sections of trends i can see price rising once more. TP is currently set at 60 PIPS where as the SL is set at 35 PIPS