Hello,
My idea on EUR/GBP for the next week based on Daily/H4.
From a daily basis I can see the price approaching short-term trendline of a descending triangle. Each high is lower.
I am looking for a possible downside bounce. Forthermore, on a daily basis we can see very strong hold around 0.8850 where the recent resistance is.
Very unconvincing approach of this spot. The upside movement is quite weak.
I want to see a struggle from the H4 chart around the underlined zone or a strong fake breakout above it.
This would be a short-term trade around the recent low. EUR is really strong right now.
Good luck :)
My idea on EUR/GBP for the next week based on Daily/H4.
From a daily basis I can see the price approaching short-term trendline of a descending triangle. Each high is lower.
I am looking for a possible downside bounce. Forthermore, on a daily basis we can see very strong hold around 0.8850 where the recent resistance is.
Very unconvincing approach of this spot. The upside movement is quite weak.
I want to see a struggle from the H4 chart around the underlined zone or a strong fake breakout above it.
This would be a short-term trade around the recent low. EUR is really strong right now.
Good luck :)
Note
Daily outlook:Note
I will give it a tryTrade closed: target reached
Trade active
OopsNote
First target area around 0.8860.Primary target remains the daily low.
Let's see how it goes.
Note
0.8860 attained. Let's see if it can go lower or not.Trade closed: target reached
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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.