EURGBP Weekly Forecast is Short and Bearish
Weekly Forex Forecast for October 10 to 14 , multiple timeframe analysis. Knowing WHEN to trade is one of the most important components to forex trading, I will be breaking that down in this forex forecast on Homa Forex Channel.
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As expected, as Bear Flag is confirmed, GBPUSD hit target 1.2675.
As I said in previous idea
"Bear Flag pattern has been confirmed. GBPUSD broke 1.3000, moved below 1.2800-1798. While below 1.2798, still bearish and potentially target 1.2675."
Next potential target 1.2511 & 1.2480.
Support at 1.2250 & 1.2211.
Resistance at 1.2675 & 1.2800.
Bear Flag pattern has been confirmed. GBPUSD broke 1.3000,
moved below 1.2800-1798.
While below 1.2798, still bearish and potentially target 1.2675.
Anyhow, GBPUSD nearing bearish downtrend line, formed since July 2021 low.
So, any short term pullback can not be overruled.
Resistance at 1.2800 and 1.3000.
friends.
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Everything on the chart.
open pos: market and lower
target: 5.42 - 6.3 - 7.5
after first target reached move ur stop to breakeven
stop: ~4.3(depending of ur risk). ALWAYS follow ur RM .
risk/reward 1 to 5
risk is justified
Good luck everyone!
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Euro weak currency versus dollar with the possibility of strength soon!!
After the failure of the area is a good position to enter.
ent: 1.16256
sl: 1.16764
tp 1: 1.5804 ( pls trail sl to ent )
tp 2: 1.15315
