This 4-hour chart of EUR/GBP indicates a potential sell opportunity following a rejection from a key resistance level.
Key Observations:
Resistance Level: Price is struggling to break above 0.84200, suggesting strong selling pressure.
Bearish Structure: The price action shows a rejection at resistance, forming a potential lower high.
Target Support: The next major support level is around 0.83448, followed by 0.82562 for further downside.
Trading Plan:
📉 Sell Entry: After price confirmation below 0.84000
🎯 Take Profit: First target at 0.83448, second target at 0.82562
🔴 Stop-Loss: Above 0.84300 to minimize risk
Technical Indicators to Watch:
✅ Bearish Candlestick Patterns confirming resistance rejection
✅ RSI Divergence or overbought conditions
✅ Break & Retest Confirmation before entering a short trade
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.