The probability of EURGBP seems at the bearish market for this week. There are number of reasons below:
- The market is respecting downtrend
- Pin bar at resistant areas on 5 December 2017 and on 12 December 2017, the market reverses back to Fibonacci Retracement 61.8% of the pin bar.
- Pin bar is below EMA 21 and 50, the EMA 50 is crossing over EMA 21.
Market planning:
Entry: 0.88250
SL: 0.8900
TP1: 0.8750
TP2: 0.8650
TP3: 0.8580
When the market hit target TP1, close 50% and trail stope lose to entry point and do the same for TP2 and TP3.
- The market is respecting downtrend
- Pin bar at resistant areas on 5 December 2017 and on 12 December 2017, the market reverses back to Fibonacci Retracement 61.8% of the pin bar.
- Pin bar is below EMA 21 and 50, the EMA 50 is crossing over EMA 21.
Market planning:
Entry: 0.88250
SL: 0.8900
TP1: 0.8750
TP2: 0.8650
TP3: 0.8580
When the market hit target TP1, close 50% and trail stope lose to entry point and do the same for TP2 and TP3.