The EUR/GBP pair has been in a downtrend, with lower highs and lower lows forming. Recently, price rejected a key resistance zone and is now continuing its bearish momentum.
🔎 Key Observations:
✅ Resistance Levels: 0.83598 - 0.83910 acted as a strong rejection zone.
✅ Sell Confirmation: Price has broken below minor support and is now moving downward.
✅ Bearish Expectation: The next major support target is 0.82618.
📌 Trading Plan:
🔻 Sell on pullbacks near resistance levels (0.83598 - 0.83676).
🔻 Target: 0.82618 as the next key support.
🔻 Stop-loss: Above 0.83827 to minimize risk.
🚨 Risk Management Tip: Always maintain a good risk-reward ratio and wait for confirmations.
💬 What’s your take on this setup? Are you looking to sell or waiting for a better entry?
🔎 Key Observations:
✅ Resistance Levels: 0.83598 - 0.83910 acted as a strong rejection zone.
✅ Sell Confirmation: Price has broken below minor support and is now moving downward.
✅ Bearish Expectation: The next major support target is 0.82618.
📌 Trading Plan:
🔻 Sell on pullbacks near resistance levels (0.83598 - 0.83676).
🔻 Target: 0.82618 as the next key support.
🔻 Stop-loss: Above 0.83827 to minimize risk.
🚨 Risk Management Tip: Always maintain a good risk-reward ratio and wait for confirmations.
💬 What’s your take on this setup? Are you looking to sell or waiting for a better entry?
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.
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.