📌 Pair: EUR/GBP
📈 Current Price: 0.84092
Key Levels:
🔹 Support Zone: 0.83766 - A key area where price has previously bounced.
🔹 Resistance Zone: 0.84400 - A strong resistance level where price has faced rejection.
🔹 Target Level: 0.85004 - Potential bullish target if price breaks above resistance.
Market Structure & Trade Idea:
EUR/GBP has shown strong bullish momentum, breaking above the support zone (0.83766).
Currently, price is testing the resistance level. A slight pullback toward support could provide a new buying opportunity.
A break above resistance would confirm bullish continuation toward 0.85004.
Trading Plan:
✅ Bullish Scenario: Wait for a pullback to 0.83766 before entering long, targeting 0.85004.
✅ Bearish Scenario: If price breaks below 0.83766, a deeper retracement to 0.82652 may follow.
🔍 Watch for:
Breakout confirmation above resistance.
Strong rejection from support before entering a trade.
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.