FX:EURGBP
As you can see that, EURGBP has created a Trendline resistance in 1Hr Time frame and if it gives breakout then we can plan for buy side. Take retest entry and it is for monday ( 31-07-2023) Plan your trade accordingly...
The current market price of EURGBP is sitting at support area.
Considering the previous Daily price action, the price is forming lower highs into the support area which means buyers are not strong enough and sellers are rejecting any jump in price.
The current price actions is forming a DESCENDING TRIANGLE, which is a bearish pattern. But it will be activated only...
When it comes to the technical analysis of EURGBP, you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If the price breaks Target 1, you may keep the position till Target 2. If you are going in, better find a pullback. I have marked a good entry area on...
There's a strong resistance here(weekly). So, we can take a nice short here for the target shown in the chart!!! Prices also showing good pullback downside so, it may be a good trade for us !!!
Also, last week prices take good upside route and a recovery to downside is strongly expected from here...
That's all for now...
Follow for more!!! :)
On Friday, EURGBP hovered around 0.89400 levels which holds a good support according to both Bollinger Bands and trend channel formed in 4 hr chart.
So, we can long this pair for approx. 0.90100 levels as take profit. It has high chances that price will test that range this coming week or maybe higher as we see from a Daily perspective.
So, we are bullish on...
