25.01.2023 10:02 AM
EURGBP Potential for Bullish Continuation towards recent swing high

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Description :

Looking at the H4 chart, my overall bias for EURGBP is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market structure. Looking for a pullback buy entry at 0.87952, where the overlap support and 38.2% Fibonacci line s. Stop loss will be at 0.87219, where the recent swing low is. Take profit will be at 0.88970, where the previous swing high was.

Trading Recommendation

Entry: 0.87952

Reason for Entry: Overlap support and 38.2% Fibonacci line

Take Profit: 0.88970

Reason for Take Profit:

Previous swing high

Stop Loss: 0.87219

Reason for Stop Loss:

Recent swing low

Dean Leo,
Analytical expert of InstaForex
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