EUR/GBP Intraday Long Setup (30M) – Higher Low ContinuationThe chart shows a developing bullish structure on EUR/GBP after a period of consolidation. Price action has formed a higher low followed by a series of higher highs, indicating a potential shift toward short-term upside momentum.
After a sharp impulsive move upward, price pulled back in a controlled manner, respecting a rising trendline. This corrective phase suggests accumulation rather than distribution, with buyers stepping in at higher levels.
Trade Idea:
Entry: Around 0.8663 (near current price and trendline support)
Stop Loss: 0.8650 (below recent swing low, protecting against structure breakdown)
Target: 0.8684 (previous resistance zone / projected continuation area)
The risk-to-reward ratio remains favorable, with the setup aiming to capitalize on continuation after a pullback. A break and hold above minor resistance strengthens the bullish bias.
Key Observations:
Trendline support holding firm
Higher low structure intact
Momentum building after consolidation
Clean risk management with defined invalidation level
As long as price maintains above the stop-loss zone, the bullish scenario remains valid. A breakdown below would invalidate the setup and suggest further range or downside movement.
Long
