🔰 Pair Name :EUR/GBP 🔰 Time Frame : 4hrs/ Daily 🔰 Scale Type : Mid/ Long Scale 🔰 Direction : SHORT /SELL
The EURGBP price has reached the 4-hour resistance level at 0.8622, which is just below the daily resistance at 0.86325. If a bearish pin bar forms after the closure of the Daily candle, it indicates a potential reversal, and we can expect the price to retreat towards the daily support level at 0.84775, or even further down towards the possible lower daily support position at 0.84133.
We will closely monitor the price action until the closure of the Daily candle to assess the market conditions and make an informed decision regarding the opening of a sell position.
Trade active
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Comment
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🏦 Bank of England hiked 5% rather than 2.5% interest rate to fight inflation. That’s one of the major fundamental reason why we sell EURGBP Today.🗞️🧠⚡️
Comment
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Beautiful daily bearish pin bar formed! EURGBP in resumption of the downtrend. We have opened a sell position to 0.8415