EUR/GBP had a bearish day yesterday. The H1 chart shows that the pair made a bearish move to start its trading day and found its support at 0.89420. It produced a bullish inside bar and headed towards the North in search of its resistance. The level of 0.89560 worked as a level of resistance and produced a bearish candle with a tiny lower shadow. However, the candle closed with a long bearish body producing at the 61.8% Fibo level. Thus, the price may continue its bearish move towards support. If it makes a breakout at today’s low, then the sellers may go short and drive the price towards the downside. We have triggered a Sell Stop order at 0.89375.
Trade Summary:
Entry: 0.89375
Stop Loss: 0.89555
Take Profit: 0.89195
The risk for the trade per standard lot is $ 197.94, Mini lot $ 19.79 and Micro lot $1.97. The risk-reward is 1:1. Thus, the reward for per standard lot is $ 197.94, Mini lot $ 19.79 and Micro lot $1.97.
