EURGBP has reached a notable resistance level, an area that has been a clear turning point in the past, leading to some notable reversals. Given this, there is once again potential for a bearish reaction if price action confirms rejection, such as a bearish engulfing candle, long upper wicks or increased selling volume.If the resistance level holds, I anticipate a downward move toward 0.8500, which for me is quite an achievable target now.
But if the price breaks above this zone and sustains above it, the bearish outlook may be invalidated, leading to further upside.
Just my take on support and resistance zones, not financial advice. Always confirm your setups and trade with solid risk management.
Trade active
✅ FREE SIGNALS: t.me/trenddiva
✅ BEST Broker - Get 20% Deposit BONUS: bit.ly/trenddiva
✅ BEST Broker - Get 20% Deposit BONUS: bit.ly/trenddiva
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ FREE SIGNALS: t.me/trenddiva
✅ BEST Broker - Get 20% Deposit BONUS: bit.ly/trenddiva
✅ BEST Broker - Get 20% Deposit BONUS: bit.ly/trenddiva
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.