EURGBP Two Possibilities - Daily chart
If you have been following my previous EURGBP charts you will have made some serious pips in the past 2 weeks. But now it gets a little less clear.
We are at the bottom of our channel, which gives potential to buy. However the previous high has formed a double top , which gives us the possibility that price will exit the current channel.
Buying with a stop below the channel is a good idea.
Switching to sell if your buy stop is hit, or we close outside of the channel at any point is also a good idea.
Red arrows do not predict exact price or time. Only direction. I advice you to manually exit the trades at key structure points if you are unsure of where to place TP.
We are at the bottom of our channel, which gives potential to buy. However the previous high has formed a double top , which gives us the possibility that price will exit the current channel.
Buying with a stop below the channel is a good idea.
Switching to sell if your buy stop is hit, or we close outside of the channel at any point is also a good idea.
Red arrows do not predict exact price or time. Only direction. I advice you to manually exit the trades at key structure points if you are unsure of where to place TP.
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