3 Feb 2016

EUR/GBP FACES A BREAKOUT VERY SOON

EUR/GBP H4

The rate is currently testing the head and shoulders/symmetrical triangle floor.

A downside break below 0.7540 would open up a way towards the 61.8% and 100% breakout targets at 0.7400 and 0.7315 and would indicate the rate may be ready to resume it's broader downtrend.

A break above 0.7605 would trigger a symmetrical triangle scenario and should lead to a deeper retracement higher in the overall downtrend. The immediate targets should be the 61.8% and 100% breakout targets at 0.7735 and 0.7825.




For deeper knowledge on how the Forex market works and how to trade it simple check out our Forex Online School

If you don't want to miss any new trade ideas and updates, subscribe to one of our Trade It Simple Signal Service Plans and receive in your E-mail:
  • Entry details
  • Take-profit details
  • Stop-loss details
  • Trade updates
 SUBSCRIBE HERE!

0 comments :

Post a Comment