It could be a good chance to jump in the EURGBP bullish trend.
The market has just closed above previous structure highs, and has now retraced back to and area where there is ratio confluence between the 0.382 and the 0.618 of the latest two impulse legs.
The RSI also signals over sold at 20 points. Targets are set at another ratio confluence level of 1.272 and 1.414, which fall at an area that has proved to be support and resistance before.
Stop loss is set below the previous structure lows.
The market has just closed above previous structure highs, and has now retraced back to and area where there is ratio confluence between the 0.382 and the 0.618 of the latest two impulse legs.
The RSI also signals over sold at 20 points. Targets are set at another ratio confluence level of 1.272 and 1.414, which fall at an area that has proved to be support and resistance before.
Stop loss is set below the previous structure lows.