EUR/GBP
Time frame: H4
Technical analysis: Chart shows that the price is moving in a downward trend channel. At the moment, the price is about 25 pips out of the strong diagonal resistance of the trend channel while at the same time there is a 200 EMA that plays the role of strong resistance. If the price reaches the trend line we can position itself with "sell" orders.
Indicators: The price is below 200 EMA, and for the time being it plays a role of strong resistance.
The price is over 50 EMA, currently playing a role of support.
DeM - Currently in neutral territory and does not give signals.
Entering a deal: Only when the trendline is reached.
SL: 0.8660
Alternative scenario: If the price can break through 200 EMA and diagonal resistance then it will continue to rise to the next level of resistance around 0.8650.
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