EURGBP Trade Idea (19th December 2019)
Currency Pair: EUR/GBP
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2300hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
EUR/GBP has been on a upward trend and as EUR/GBP broke the Resistance level of 0.8520, trade signaled to buy EUR/GBP (Entry: 0.8533) with 3 Take Profit (TP) Targets (TP1: 0.8553, TP2: 0.8573, TP3: 0.8593) and Stop Loss (SL) at 0.8503.
Timeframe: H1
Date/Time of Signal: 19th December 2019 / 2300hrs (SGT)
Review:
UK Retail sales m/m was worse than expected. Bank of England (BOE) held interest rates at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level. However, BOE also mentioned that it could cut rates if “global growth fails to stabilize or Brexit uncertainties remain entrenched.”
EUR/GBP has been on a upward trend and as EUR/GBP broke the Resistance level of 0.8520, trade signaled to buy EUR/GBP (Entry: 0.8533) with 3 Take Profit (TP) Targets (TP1: 0.8553, TP2: 0.8573, TP3: 0.8593) and Stop Loss (SL) at 0.8503.
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