On the 4 hour timeframe, the EUR/GBP pair is trading with a selling bais at 0.8850 level, facing immediate support at 0.8825 level. On the lower side, the EUR/GBP pair may find support at 0.8825 area, whereas violation of this can extend selling bias until the 0.8782 mark. The MACD and RSI support a selling bias, along with a downward channel that we can see on the four hourly timeframes. Here’s a trading plan for today…
Entry Price – Sell 0.88668
Stop Loss – 0.89068
Take Profit – 0.88268
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
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