EURGBP: Possible stop hunt before the upmove

This pair is edging lower towards the demand zone marked in the green area (0.8880/0.8830).

There was a bounce from the top of the demand zone on the lower time frame (H4), my guess is that this is from a retail buy-in.

I expect the price to dive lower first, hunting the long orders and attracting short positions before the price pushes upwards towards 0.9015.

Wait for price to retrace lower before buying in.

EURGBP Long
Entry is valid as long as price is above 0.8830

SL: 0.8780
TP: 0.9015

Commentaire:

As expected, price went further into the demand zone before being met with a bullish reversal. We are currently in profit.

It is still not too late to take a long position here.