EURGBP: Trading Plan

2 באוק׳ 2019

hey traders,

EURGBP is currently trading within the rising parallel channel.
What is worth paying our attention to is recent rejection from 0.893.
It looks like sellers accumulate their selling positions around this level.

based on this observation and horizontal structure on the left I have
identified a potential reversal zone between 0.893 and 0.896.

once the market reaches this area, I will be waiting for a bearish breakout of a bear flag
to short the pair.

Target levels will be 0.8860 and 0.8805

Stop will be above the highest point of the flag.

good luck!

*if you like this idea, please, like it and leave a comment! thanks :)