EUR/GBP is Trading between Fibonacci Levels

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By Deya Hroob


This trade set up is based on daily chart. 

EUR/GBP  is currently trading within two Fibonacci levels as shown on the chart above.


 0.8865 (which is also 0.236 Fibonacci level) is proved to be a strong support, that's why it's one of our buying areas.

 As the pair is trading near a resistance level, I don't recommend open long position now.

 We may buy in two conditions:

 Firstly, when the price revisits the support line, with stop loss below that line.

Secondly, when the pair breaks out the resistance level ( What I mean here a breakout is a daily closed candle above this level).

Good luck!

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