Waiting for a pull back in EURGBP pair - forex leaning place

forex leaning place

The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world.

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Wednesday, 31 May 2017

Waiting for a pull back in EURGBP pair

It's obvious from the picture is that EURGBP is in uptrend in H4 time frame. Price is now retracing after creating a swing high.

The last swing high failed to create a higher high for which the trend is in trouble. If price creates a higher low and bounces back from the dynamic support created by  30 & 50 SMA then uptrend will continue further and I'll ride on the trend.

Here I'm using three SMA to find my trade set up. SMAs are 30, 50 & 100. I'll update about this pair later.

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