EURGBP – Buy Opportunity
Euro Fx/British Pound FX:EURGBP
The price bounced from 0.85500 support level . The daily timeframe gives us a bullish divergence which is a buy signal. The indicators from the 4H chart confirm the price reversal and a possible upward movement. DMI is bullish , and ADX line starts an upward movement. If this line moves above 20 level, it will be a good confirmation of the bulls’ strength and new trend market conditions.
The key resistance zone is formed by 0.86500 level and SMA100. If the price can break this zone, it will be possible to open buy trades with stop orders below 0.85500 level and profit targets at the nearest resistance levels.
Source: TW DLavrov