Currency Analyst since 2010

EUR/GBP: trade recommendation

   By Leonid Vereschagin

EUR/GBP has reached the line of the upward channel and the resistance of 0.8030. The picture on the daily chart allows us to consider short with stop not lower than 0.8055. If euro manages to overcome 0.8030, it will be able to continue growth to 0.8140. Big stop in this position is not necessary.

Watch divergence of the oscillators which is increasing the expectations of correction down. The overbought condition of the RSI at H4 points to short positions.

All in all, we are seeing the 3-peak structure. The ratio between SL and TP is beneficial.

Trade signal

SELL: 0.8005-0.8030

Stop Loss: 0.8055

Take Profit: 0.7955

Резюме: sell-signal is confirmed

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