EUR/GBP - BULLISH RSI DIVERGENCE | 61.8% FIBONACCI REVERSAL

Pembelian

Euro / Pound Inggris (FX:EURGBP)

FX:EURGBP Euro / Pound Inggris

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After an explosive move upwards in the recent weeks, EUR/GBP has retraced and been sold off consequently.
It has now reached the 61.8% fibonacci retracement level which is a key zone price tends to reverse at.
Furthermore, at this level, RSI has printed bullish divergence on the hourly timeframe.
There is therefore sufficient reason to open a long position and expect a reversal.
Stop will be placed below the 61.8 level and the target will be a 61.8% retracement of this downside move, ~$0.9140.

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