Strong support should provide a nice entry.
Price has decelerated to a strong bullish trend line and horizontal support (was once resistance), along with bullish MACD.
The Pound has been bearish across most pairs lately so make sure price confirms support (don't catch a falling knife).
Entry is placed above last daily high and stop below last daily low. Move entry points day to day if price is not triggered and set up remains the same.
TP is set just below 50EMA as an initial resistance zone. Monitor how price action approaches the 50EMA and trail stop if price breaks through.
The Pound has been bearish across most pairs lately so make sure price confirms support (don't catch a falling knife).
Entry is placed above last daily high and stop below last daily low. Move entry points day to day if price is not triggered and set up remains the same.
TP is set just below 50EMA as an initial resistance zone. Monitor how price action approaches the 50EMA and trail stop if price breaks through.
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