LegionQ8

British Pound can exit from channel and continue to grow

Long
FX:EURGBP   Euro / Sterlina
Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see how the price a few days ago bounced to the resistance level, which coincides with the seller zone and resistance line. Then it started to decline close to this line and fell to the current resistance level, which coincide with the buyer zone, but soon bounced back to the resistance line. Next, British Pound declined again lower of the buyer zone and later rolled up to the seller zone, thereby breaking the resistance line. After this movement, the price declined to the current resistance level and then made impulse higher of the seller zone, where later it entered to downward channel, in which British Pound fell below the buyer zone. But a not long time ago price bounced of the support line and now trades in the buyer zone. Possibly British Pound can decline a little and then bounce up to the resistance level. Also, I think that price can break it, make a retest, and then continue to grow, exiting of downward channel. Therefore I set up my target at 0.8560 level. Please share this idea with your friends and click Boost 🚀
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