Divergence on EUR/GBP

Divergence on EUR/GBP

Since the beginning of this week, there have been aggressive sales of EUR/GBP. Nevertheless, a technical correction is not ruled out in the near future. At the moment, a fairly strong reversal formation, the price and the MACD histogram divergence (M30 timeframe), was formed. The local resistance is 0.88100. We recommend you to pay attention to this situation.

If the price fixes above the resistance level of 0.88100, you need to look for entry points to the market to open long positions. The closest target for profit taking is the 0.88500 mark. In the medium term, EUR/GBP may reach a round of 0.89000. When tracking the position, we recommend using a trailing stop.

by JustForex, 2017.11.30

View trading ideas by the Price Action method.

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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