After the pair made the down move which came in band-to-band move and duplication we can expect the price to reach the opposite band of the bollinger bands. There is also bullish divergence developing at the moment. Drop to the H1 chart and look for clear double wave correction down before going long.
Technical Analysis:
H4 – band-to-band move, duplication
H1 – potential double wave correction
Entry:
H1 – wait for double wave correction, protecting the last low and go long
Target 1: H4 20 MA
Target 2: H4 higher band of the bollinger bands
Stop Loss: below last low
Video Explanation
Yours,
Vladimir
– See more at: http://vladimirribakov.com/forex-market-updates/buying-dips-in-eurgbp-preferred/#sthash.Jr279Ske.dpuf
