Nice idea on EURGBP and there may be potential gains as you have identified by going long. We have found a support level at 0.8724, which coincides with the support level that you are expecting a bounce from. It is a horizontal swing low support with 100% Fibonacci extension and 76.4% Fibonacci retracement. Stochastic is approaching support and we might see a corresponding bounce in price. If a corresponding bounce does occur, we may want to take a look at the 0.8855 major resistance level. It is a horizontal pullback resistance, with a 38.2% & 50% Fibonacci retracement and 100% Fibonacci extension. Excited to see how things develop.
Please take a look at our idea and share with us what you think.
Please take a look at our idea and share with us what you think.