EURGBP: Trade Opportunities at Support

The price reached the support zone between SMA200 and 0.88635 support level. We should watch for the price action at this zone as it will be able to give us a good trade opportunity for buying. I would search for the exact entry points using trading setups such as reversal signals from support, bullish divergences, reversal chart patterns in combination with the 1H-4H timeframes.

Stop orders for long trades should be placed below the local swing lows and the support. The main profit target should be at 0.90000 resistance. Risk per trade must be no more than 1-2% from the capital.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.