LONG ON EUR-GBP SEARCHING THE BREAK OF CURRENT RANGE
Eur-GBP is trading above November highs, we already have a good excell low, showing that price is holding close to the highs of multi week range.
We might now need to explore the highs of the range! if we exit range and hold, we might see a rally to 0.895 region!
The 0.9 level is a clear Psychological level and it has been the most "accepted" price from June 2020 to January 2021. Since then we only explored this region one, during the crazy days of GBP that resulted in the resignation of former prime minister Liz Truss.
The win rate of this trade is not very high, since we are entering before a breakout, but the risk reward is around 4.5 to 1.... definitely worth it!
We might now need to explore the highs of the range! if we exit range and hold, we might see a rally to 0.895 region!
The 0.9 level is a clear Psychological level and it has been the most "accepted" price from June 2020 to January 2021. Since then we only explored this region one, during the crazy days of GBP that resulted in the resignation of former prime minister Liz Truss.
The win rate of this trade is not very high, since we are entering before a breakout, but the risk reward is around 4.5 to 1.... definitely worth it!
Fulltime trader since 2018.
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