EURGBP - Long Possibility (Updated)
Zaktualizowano
Currency Pair: EURGBP - updated
Frequency: Daily
EURGBP had a sharp correction for its corrective Wave 4 and the price found support on the support zone of 0.88109 - 0.87656, as well as trading above the 200MA. Normally speaking, after a flat correction for Wave 2, we can expect a relatively sharp correction for Wave 4 so it may give us a signal that corrective 4 is finished and the wave 5 will be coming. As the price is currently reversed sharply after hitting the support zone so it is not a good time to buy until the price followed by a correction coming back to the lower level around the support zone.
For more confirmation to develop its uptrend we have to wait for the price to break through the resistance zone of 0.91489 - 0.90830 and the strong resistance level of 0.930. If the price stands steady above 0.930, then the target of the impulse wave 5 will look at the high of Aug 08 at 0.974 - 0.980
Frequency: Daily
EURGBP had a sharp correction for its corrective Wave 4 and the price found support on the support zone of 0.88109 - 0.87656, as well as trading above the 200MA. Normally speaking, after a flat correction for Wave 2, we can expect a relatively sharp correction for Wave 4 so it may give us a signal that corrective 4 is finished and the wave 5 will be coming. As the price is currently reversed sharply after hitting the support zone so it is not a good time to buy until the price followed by a correction coming back to the lower level around the support zone.
For more confirmation to develop its uptrend we have to wait for the price to break through the resistance zone of 0.91489 - 0.90830 and the strong resistance level of 0.930. If the price stands steady above 0.930, then the target of the impulse wave 5 will look at the high of Aug 08 at 0.974 - 0.980
Zlecenie aktywne
0.88866 Buy in with stop Loss 0.87656
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