Euro / British PoundShort
SELL OPPORTUNITY
Instrument: EUR/GBP
Entry Price: 0.83030 GBP
Take Profit (TP): 0.82790 GBP
Stop Loss (SL): 0.83132 GBP
Risk-Reward Ratio: ~1:2
Technical Analysis:
Supply Zone (0.83060–0.83120): The price is approaching a key supply zone between 0.83060 and 0.83120. In this zone, there is expected to be significant resistance, and the price is likely to face downward pressure. This sets up a potential opportunity for a short trade as EUR/GBP might reverse from this level.
Bearish Momentum: Given the price action in the supply zone, a reversal could take the pair lower towards your Take Profit level of 0.82790. This is a reasonable target, as the price could test lower levels once resistance is met.
Fundamental Considerations: Holiday Liquidity-With Christmas and New Year approaching, liquidity is expected to be lower than usual. This can lead to increased volatility or choppy price action. Be aware that the market might not behave in the usual manner during this period, with wider spreads and less predictable movements.
Entry Price: 0.83030 GBP
Take Profit (TP): 0.82790 GBP
Stop Loss (SL): 0.83132 GBP
Risk-Reward Ratio: ~1:2
Technical Analysis:
Supply Zone (0.83060–0.83120): The price is approaching a key supply zone between 0.83060 and 0.83120. In this zone, there is expected to be significant resistance, and the price is likely to face downward pressure. This sets up a potential opportunity for a short trade as EUR/GBP might reverse from this level.
Bearish Momentum: Given the price action in the supply zone, a reversal could take the pair lower towards your Take Profit level of 0.82790. This is a reasonable target, as the price could test lower levels once resistance is met.
Fundamental Considerations: Holiday Liquidity-With Christmas and New Year approaching, liquidity is expected to be lower than usual. This can lead to increased volatility or choppy price action. Be aware that the market might not behave in the usual manner during this period, with wider spreads and less predictable movements.
GODO Capital Markets
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.
GODO Capital Markets
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.