EURGBP Analysis
The EUR/GBP pair is exhibiting a bearish trend on the higher time frames, which is favorable for our analysis. The market has formed a series of lower highs and lower lows, confirming the downward momentum. Currently, the price is testing a strong resistance level that has been retested, presenting a critical juncture. At this point, it is prudent to adopt a wait-and-see approach to observe how the market interacts with this level. A break above the resistance could invalidate our bearish setup, while a rejection and consolidation below this level would reinforce the likelihood of the bearish trend continuing.
We will monitor the market's behavior closely. I hope you all had a profitable trading week, and I wish you a pleasant and restful weekend ahead.
Cheers!
The EUR/GBP pair is exhibiting a bearish trend on the higher time frames, which is favorable for our analysis. The market has formed a series of lower highs and lower lows, confirming the downward momentum. Currently, the price is testing a strong resistance level that has been retested, presenting a critical juncture. At this point, it is prudent to adopt a wait-and-see approach to observe how the market interacts with this level. A break above the resistance could invalidate our bearish setup, while a rejection and consolidation below this level would reinforce the likelihood of the bearish trend continuing.
We will monitor the market's behavior closely. I hope you all had a profitable trading week, and I wish you a pleasant and restful weekend ahead.
Cheers!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.