HI guys,
One of my favourite pairs, EURGBP seems to still be bullish dispite the bears coming in.
Price rejected up trend channel resistance a couple of times, which shows bullish power is still in play.
Structure shows price rejection at the 0.618 retacement so that is a key level to watch.
Personally would go long and TP1 just below the 0,618 level (0.7250) and TP2 at structure high (0.7750)
Many economic data coming out later in the week (FOMC, EUR CPI etc) so please trade with care.
One of my favourite pairs, EURGBP seems to still be bullish dispite the bears coming in.
Price rejected up trend channel resistance a couple of times, which shows bullish power is still in play.
Structure shows price rejection at the 0.618 retacement so that is a key level to watch.
Personally would go long and TP1 just below the 0,618 level (0.7250) and TP2 at structure high (0.7750)
Many economic data coming out later in the week (FOMC, EUR CPI etc) so please trade with care.