EURGBP: GBP's news was good!

11 ก.ค.

Hello Traders,

This is the long-term bearish channel of the pair:

Reaction to the gap and middle of long-term channel is clear in the above chart.

Let's search for TP!

This is a Strong Resistance
I think it might be a good target

Let's take a look to the news!
Most important one which is GDP was a surprise for Pound, bearish for the pair.
Monthly industrial production was supposed to rise from -0.9% to 0.3% but it stopped at 0.2%. It has been considered to be bad for GBP! I think it's almost nothing compared to GDP news. All other important factors were positive too, Only trade balance which I think again less important than others.

Technically and Fundamentally I'm short!!

I'll enter after Order flow or LTF structure confirmation.
1st TP: (For short term-traders with lower SL)
Daily Pivot

2nd TP: Support line and middle of short-term channel

3rd TP: Bottom of both channel