After confirming 0.8615 as resistance, EurGbp fell under 0.8550
At this moment the pair is correcting this fall and is trading in a flag pattern
A new leg down can follow once support is broken and a new visit to 0.85 important support
What we see on EURGBP is quite clear and nice, price getting weaker and weaker as you see, preparing to make new high which already we have seen higher lows,
Sor far we waiting for price to show more Bullish signals and ofc we wait for the price to break our base to up then we prepare for strong and nice setup for LONG
Finally set our 1:6 order and go with new...
We consider selling this EURGBP pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Key area. I recognize this pattern,it's Bearish.
Trendline Holding 100EMA (red)
Sell to the indicated target
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💹EUR/GBP ⏬BUY @ 0.85600
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Since mid-July, EurGbp traded downwards and the pair also has broken under 0.85 important support
However, after this break, lows are marginal and without power
At this moment the pair is facing descending trend line and a break here should accelerate gains
0.8550 is a logical target for bulls. Also 0.85 is now resistance
EUR/GBP is moving in a downtrend. A slight correction to the 0.85250 price and further downward fall is possible. The breakdown of the key resistance line in the price area of 0.85250 can be considered a signal for a trend reversal
The analysis is done in the H4 Timeframe. The MArket is moving in a descending triangle. And pull back strongly from strong weekly support.
At the same spot, we have a double bottom that is good price action for buy.
We expect to buy this pair because the price has reached a very strong support level below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely.
The EURGBP is inside the major bearish channel, and after hitting the bottom of the channel, there is a 70% chance that we will see a reversal trend forming inside a minor channel.
For now, we are waiting for the pullback signal and a good setup to enter the Buy trade
Lovely order on EURGBP R:R 1:9
‼️Attention‼️ As soon as we get 50% ✅ in profit, SL❌ to entry point & Save profit
@FxShzd trading style doesn't care about win rate only thing cares is Risk to Reward
Lets make trading simple W/ @FxShzd
Any question comment bellow
We have 2 positions here.
A buy signal occurs after the price crosses 0.8612 with the probability is 40%.
A sell signal occurs after the price passes and closes after 0.8567 with the probability is 60%.