GBP crosses/Technical Analysis/Trade Ideas

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 🙂 ).

  1. This morning, i have analysed this cross and i think the risk is pretty weak with this trade idea : entry at 0.7970 s/l : 0.7950 TP : 0.8160

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