FXtrades-gp

EURGBP: Be Aware on this HISTORICAL SUPPORT ZONE!

Long
FX:EURGBP   Euro / British Pound
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🟢Forex Pair:
EUR/GBP

Technical Analysis:
In the weekly chart, since June 2020, the price got many rejections on the strong support level at about 0.88690, failing any attempt to break it. During the current session the price reached one more time the same level and it will probably get a new rejection.

In the daily time frame, the price got a strong impulse on the 7th of January, heavily falling down for about 200 pips, reaching the weekly support zone .

In the h4 time frame the price seems is creating a falling wedge pattern, it reached its dynamic support zone and at the same time the weekly support area . The price is actually giving us a growth signal.

🔴Conclusion:
I think the price is currently in an interesting situation, it reached an important area that reversed the market many times in the past, so I'm confident to see the price breaking the pattern and reach the next resistance zone (also my current target) at about 0.90000.

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

amazing setup man
+1 Reply
FXtrades-gp DACapitalTrading
@DACapitalTrading, Thanks so much, a big pleasure to receive your comment here! :)
Reply
\Great setup!!
+1 Reply
@FOREXN1, Many thanks, I'm so glad of that! :)
Reply
Clean and clear. As usual buddy
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst, thanks Rich, I'm so glad to hear that from you! :D
Reply
I like it, wonderful.
+1 Reply
@abel11, Thanks a lot, I really appreciate! :)
Reply
love this charts keep the amazing work bro!!
+1 Reply
FXtrades-gp airforexoneJAVIER
@airforexoneJAVIER, Hi and thanks for your feedback, I really appreciate that! :)
Reply
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