EUR/GBP an opportunity for opening long positions with close SL and a good risk/reward ratio

Forex EUR/GBP D1 Technical Analysis Our expectations:

Short trend and short-term long correction. Movement in the trend channel, the price has reached the upper boarder, allowing entry by the trend.

Indicators:
Price below 38.2% Fibonacci.
Test of 50SMA and 200 SMA, the price holds below.
DeMarker on neutral territory
Sequential gives 9 for decrease.

SL: 0.8888

Alternative Scenario: A verified breakthrough 38.2% Fibo will break key technical resistance and will most likely lead to a bigger correction.

Fundamental: Today we expect the ECB's decision on interest rates and later their press conference. As for the conference itself, no different approach is expected in communication to market participants, and no different decision on interest rates is expected except to remain at the same levels. Regardless of the concerns that have come from Italy, Breccitt and the tightening policy of the financial conditions in the United States can spread their consequences to the Old Continent as well.

There are some risks of high volatility and stop hunting.

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