EUR/GBP: I’m bullish but where is best entry level
The 4-hr chart shows that the uptrend accelerated off .7885 but stalled at .8110 and is now retracing. The 38.2% retracement is near .8025 and this was the approximate low last night. I’m watching the hourly chart for signs of a turn and if that happens then I’ll jump on board with a tight-ish stop.
The ideal entry level for medium-term longs is around .7970 so perhaps we will need to show some patience (never a spot traders best trait 🙂 ).