EUR/GBP Buy Trade Analysis – 4H Timeframe📈 Pair: EUR/GBP
🕒 Timeframe: 4-Hour
📥 Entry Price: 0.85112
🎯 Take Profit (TP): 0.86300 (approximate based on visual RR box)
🛑 Stop Loss (SL): 0.84786
🔍 Trade Setup Explanation:
Strong Support Zone: The price has bounced multiple times from the 0.84900–0.85000 support area, indicating buyer strength and market rejection of lower prices.
200 EMA Acting as Support: The blue 200-period EMA is providing dynamic support, aligning with the horizontal level and increasing the probability of a bullish move.
Bullish Reversal Candles: The recent bullish candles near support show strong buying interest, suggesting a shift in momentum.
EMA Crossover Potential: Price is testing the 50 EMA from below, and a break above could indicate a trend reversal or a deeper pullback.
RSI Confirmation: RSI has bounced from oversold levels and is now crossing above its signal line (moving average), signaling building bullish momentum.
💡 Summary:
This EUR/GBP long trade is supported by confluence of horizontal support, EMA dynamics (200 EMA support, 50 EMA pressure), and RSI bullish crossover. The setup offers a strong risk-to-reward profile with technical confirmation for a potential upside move.
