Date 27.03.2017
EUR/GBP D1
The pair is in long-term uptrend, middle term consolidation. Break of main diagonal resistance and test of the breakout. The price is at horizontal support, concur with SMA 50 , diagonal support and FiBo 38.2%.
Price action signal: Engulfing candle + Gap in up direction - strong positive signal
Technical indicators: 50 SMA and 200 SMA - bullish manner of the MA.
DeM(14) - Does not gives us signals
SL: 0.8545
Alternative scenario: If the price goes back below diagonal and horizontal support and remain there, we will most likely observe drop in the price.
SL: 0.8545
Jr_Trader_P_Milanov
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