💡 EUR/GBP Bullish Reversal Setup – Falling Wedge Breakout in Play
Pair: EUR/GBP
Timeframe: 1H / 4H
Pattern: Falling Wedge (Bullish Reversal)
EUR/GBP is showing a classic falling wedge pattern, which is often a bullish reversal signal. After a prolonged downtrend, price is compressing within converging trendlines, suggesting that bearish momentum is weakening.
A breakout to the upside is anticipated, with a potential move toward the 0.8612 resistance zone.
📌 Trade Setup:
Entry: On breakout and retest of wedge resistance
Target: 0.8612
Stop Loss: 0.8325 (below wedge support / recent low)
Risk-Reward: Attractive R:R above 2:1
📊 Technical Notes:
Price has respected wedge boundaries consistently
Support around 0.8325 aligns with previous demand zone
Breakout projection aligns with previous structure highs
🛑 Wait for confirmation before entering (e.g., breakout candle close above resistance). Manage risk accordingly
Pair: EUR/GBP
Timeframe: 1H / 4H
Pattern: Falling Wedge (Bullish Reversal)
EUR/GBP is showing a classic falling wedge pattern, which is often a bullish reversal signal. After a prolonged downtrend, price is compressing within converging trendlines, suggesting that bearish momentum is weakening.
A breakout to the upside is anticipated, with a potential move toward the 0.8612 resistance zone.
📌 Trade Setup:
Entry: On breakout and retest of wedge resistance
Target: 0.8612
Stop Loss: 0.8325 (below wedge support / recent low)
Risk-Reward: Attractive R:R above 2:1
📊 Technical Notes:
Price has respected wedge boundaries consistently
Support around 0.8325 aligns with previous demand zone
Breakout projection aligns with previous structure highs
🛑 Wait for confirmation before entering (e.g., breakout candle close above resistance). Manage risk accordingly
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.