The EURGBP has just respected a very old and solid looking support level (label A). This level has been respected four or five times since July 2016. This level suggests buying positions. The upper descending trend line (label B) suggests resistance points. Using those levels as entry and exit points with a stop loss just below the lower extended support line (A), suggests a trade with a Risk:Reward of 4:1
Further to this the RSI is suggesting oversold levels and has been relatively accurate combined with the level and trend support and resistance.
Trade stängt manuellt
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Price moved close to target. Closed early to book profits.