EURGBP buy trade idea 13 05 2021

#OPINIONLEADER# #Signal#

BUY EURGBP 0.8599

SL: 0.8569

TP1: 0.8619

TP2: 0.8639

TP3: 0.8659

Signal Analysis by LCMS Traders 

Currency Pair: EURGBP

BUY EURGBP 0.8599 

Timeframe: H1

Step 1 - Previous News: EUR: EU projects that the EU economy will expand by 4.2% this year, French and German banks holiday, GBP: UK Preliminary GDP negative economic growth

Step 2 - Trend: Down to Across, Counter Trend

Step 3 - Support/Resistance: Bouncing Off Support

Step 4 - Indicators

- Bollinger Bands: touch 

- MACD: both up

- Stochastic: H4 heading into over bought

- PSAR: bullish

Step 5 - Upcoming News: EUR: -, GBP: BOE Gov Bailey Speaks tomorrow 0000hrs