EUR/GBP:
Date: 13 October, 2016
H4 Graph: Long Trend
After the Flash Crash of the GBP, the price on this pair made a correction. Now the price hold above the diagonal and horizontal support and it give us a possible signal for long again. Fundamentally the GBP is weak and this supports our view. This may be a good place for a long trade close to the diagonal support with small SL. New impulse for a upmove.
Alternative scenario: If the price moves lower below the horizontal and diagonal support and below 0,9000, this may cancel the bullish view.
Technical Indicator:
DEM (14): Still not in the overbought zone
Price for Entry Long around: 0,90500
SL: 0.8900
Jr. Trader - С. Фучеджиев
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