Bullish Retracement on EURGBP (1/12/20)

I am probably against everyone when I say that I am still bullish on EURGBP. After the price successfully crossed the red line the H1 timeframe, my bias flipped in my bullish so I am looking for buys.

The yellow lines represent the new higher high (HH) and higher low (HL) so that is now the new range. If we take fibs off those levels, we realise the 0.618 golden pocket is as shown in the chart so that would be a good entry for a nice RR.

If the 0.618 fib holds, then it is off to the races. My target would ultimately be the Daily Highs as shown in my previous related idea.

All the best!

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Komentarz:

Beautiful bounce in the golden pocket! Looking good for now...

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Nice and clean trade with perfect entry. Cheers!