- beginning of a bounce at 0.88750, matching with the of the previous impulsion.
- neutral , which means that the pair is no longer overbought
- the bounce is near an ascending support that gives a great indication about the pace of the wave.
- the 200 days moving average is well oriented and tends to accelerate : the underlying mid term trend is in the direction of the trading idea
On that situation, initiating a long position on EURGBP is appropriate, with :
- target @ 0.92155
- stop @ 0.88200
Reward/Risk ratio = 2.2