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01.02.2023 10:19 AM
EURGBP Potential for Bullish Rise towards previous swing high

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Description :

Looking at the H4 chart, my overall bias for EURGBP is bullish due to the current price heading towards the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 0.87981, where the overlap support and 50% Fibonacci line is. Stop loss will be at 0.87624, where the recent swing low is. Take profit will be at 0.88974, where the overlap resistance and 61.8% Fibonacci line is.

Trading Recommendation

Entry: 0.87981

Reason for Entry: Overlap support and 38.2% Fibonacci line

Take Profit: 0.88974

Reason for Take Profit:

Previous swing high

Stop Loss: 0.87624

Reason for Stop Loss:

Recent swing low

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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