EURGBP a turn at the 0.786 Fibonacci 🦐
EURGBP currency pair on a 4-hour chart has dropped to the 0.786 Fibonacci level after experiencing resistance at a weekly level and then falling directly onto a daily support level.
After the drop, the market started to move upward, breaking and retesting the 50% level of the previous impulse.
This suggests that the pair may have found a new level of support and could potentially continue to move upward in the short-term.
The pair has retested the 0.5 Fibonacci level and is currently approaching a minor resistance level.
How can i approach this scenario?
If the market breaks above this resistance level, it could be considered a bullish signal and a potential opportunity for a long order according to the Plancton's strategy rules.
After the drop, the market started to move upward, breaking and retesting the 50% level of the previous impulse.
This suggests that the pair may have found a new level of support and could potentially continue to move upward in the short-term.
The pair has retested the 0.5 Fibonacci level and is currently approaching a minor resistance level.
How can i approach this scenario?
If the market breaks above this resistance level, it could be considered a bullish signal and a potential opportunity for a long order according to the Plancton's strategy rules.
Commentaire:
still looking for a break above
Commentaire:
breaking above now
