Technical Analysis For The EUR/GBP
🔍 Market Overview
EUR/GBP is trading near 0.8688, showing signs of consolidation after a strong upward move. Price is approaching a key resistance area on the daily timeframe near 0.8738.
📈 Key Resistance Zone
- The resistance area (0.8738), aligned with the weekly high, has rejected price multiple times.
- A liquidity sweep above this level is possible before a potential reversal.
📉 Downside Potential
- If price fails to hold above the resistance, a rejection and reversal could lead back toward the Friday daily low at 0.8628 and possibly the support zone at 0.8541.
- Further downside could target the weekly low at 0.8473 if bearish momentum strengthens.
📌 Summary
Currently watching for:
- Fakeout above 0.8738 → Short opportunity if rejection occurs.
- Break and close above 0.8750 → Potential bullish continuation scenario.
If you enjoy, press the like button.
🔍 Market Overview
EUR/GBP is trading near 0.8688, showing signs of consolidation after a strong upward move. Price is approaching a key resistance area on the daily timeframe near 0.8738.
📈 Key Resistance Zone
- The resistance area (0.8738), aligned with the weekly high, has rejected price multiple times.
- A liquidity sweep above this level is possible before a potential reversal.
📉 Downside Potential
- If price fails to hold above the resistance, a rejection and reversal could lead back toward the Friday daily low at 0.8628 and possibly the support zone at 0.8541.
- Further downside could target the weekly low at 0.8473 if bearish momentum strengthens.
📌 Summary
Currently watching for:
- Fakeout above 0.8738 → Short opportunity if rejection occurs.
- Break and close above 0.8750 → Potential bullish continuation scenario.
If you enjoy, press the like button.
Trade active
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.
💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
Related publications
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.