Inside Bar on EUR/GBP

Inside Bar on EUR/GBP

The EUR/GBP currency pair has already been in a sideways movement for quite some time. During the past three months, the key support and resistance levels were formed: 0.87500 and 0.89000, respectively. In the near future, EUR/GBP may exit the trading range. Near the level of 0.87500, a classic pattern of the Price Action Inside Bar (D1 timeframe) was formed. We recommend you to pay attention to this situation.

If the price fixes below 0.87500, sales of EUR/GBP should be considered. The closest target for fixing profits is the support level of 0.86500. In the medium term, the EUR/GBP currency pair may reach the level of 0.85250. When following the positions, we recommend using a trailing stop. Confirmations and entry points to the market should be looked for on lower timeframes.

by JustForex, 2018.01.24

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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