The EUR/GBP pair has been falling steadily and recently reached 0.8230, its lowest point in over 3 years. The last time the price touched this level was in March 2022, which marked the start of a strong upward trend. This makes 0.8230 an important support level where the price could bounce back.
We believe this could be the beginning of a uptrend, and we're aiming for two key targets:
1. First Target (TP1): 0.8445
This is the first resistance level where the price might pause.
2. Second Target (TP2): 0.8610
If the first resistance is broken, this is the next level we expect the price to reach.
Watch the price closely around 0.8230. If it starts moving up, that could confirm the trend change. Consider setting a stop loss below 0.8230 to manage risk while targeting the levels mentioned above.
We believe this could be the beginning of a uptrend, and we're aiming for two key targets:
1. First Target (TP1): 0.8445
This is the first resistance level where the price might pause.
2. Second Target (TP2): 0.8610
If the first resistance is broken, this is the next level we expect the price to reach.
Watch the price closely around 0.8230. If it starts moving up, that could confirm the trend change. Consider setting a stop loss below 0.8230 to manage risk while targeting the levels mentioned above.
Trade active
Our EUR/GBP trade reached the first target, and we took partial profits by closing half.Trade closed: stop reached
EUR/GBP reached our first target, where we closed half of the position and waited for the next target. However, since it didn't reach the second target, we closed the position.
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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.