EURGBP Testing Resistance, Prepare For A Reversal!
Sell below 0.8963.
Stop loss 0.9010.
Take profit at 0.8881.
Reason for the trading strategy (technically):
EURGBP is testing its resistance at 0.8963 (100% Fibonacci extension, 78.6% & 50% Fibonacci retracement, horizontal swing high resistance) where a reversal is expected, causing price to fall to its support at 0.8881 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
Stop loss 0.9010.
Take profit at 0.8881.
Reason for the trading strategy (technically):
EURGBP is testing its resistance at 0.8963 (100% Fibonacci extension, 78.6% & 50% Fibonacci retracement, horizontal swing high resistance) where a reversal is expected, causing price to fall to its support at 0.8881 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
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