EUR GBP - High Probability reversal
There is a high probability setup opportunity on EUR GBP. The reason for me considering this a high probability reversal is that we have a strong convergence on RSI as well as on MACD.
On the MACD it can be seen more clearly that we have a convergence at a lower low but histogram is above the zero.
Potential TP areas are at the first zone of weekly resistance with 1 : 1 RR and the second zone of weekly resistance with 1 : 2,29 RR.
Keep in mind this is a trade which can take from a few weeks to a month or two to develop. If you are a swing trader you got to be patient and stick with your idea until you are proven the opposite.
On the MACD it can be seen more clearly that we have a convergence at a lower low but histogram is above the zero.
Potential TP areas are at the first zone of weekly resistance with 1 : 1 RR and the second zone of weekly resistance with 1 : 2,29 RR.
Keep in mind this is a trade which can take from a few weeks to a month or two to develop. If you are a swing trader you got to be patient and stick with your idea until you are proven the opposite.
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