EUR/GBP Technical Analysis: Bullish Rebound from Key Support!!

11 lut

Key Observations:

1. Support Zone & Trendline:

A support zone (marked in red) is visible, which aligns with a rising trendline. The price has tested this area and bounced upwards, suggesting demand at this level.



2. Bullish Rejection & Confirmation:

The recent price action shows rejection of lower prices within the support zone.

A bullish candle has emerged after the price tested this zone, hinting at potential upside momentum.



3. Moving Average Resistance:

The 200-day EMA (Exponential Moving Average) at 0.84058 acts as a significant resistance level.

If the price sustains above the trendline and support zone, a potential retest of the 200 EMA is likely.



4. Price Target & Direction:

The blue arrow suggests an expected bullish move.

The immediate target is around 0.8400 - 0.8450, where the 200 EMA and previous price action resistance exist.




Conclusion & Trading Plan:

Bullish Bias: As long as the price holds above the trendline and support zone, further upside is favored.

Breakout Confirmation: A daily close above 0.8350 could further confirm bullish momentum.

Bearish Scenario: If the price breaks below the trendline and support zone, it could trigger a bearish move toward 0.8250.

12 lut

Zlecenie aktywne

📈 EUR/GBP Analysis Playing Out Perfectly! 🚀

The market has respected the key support zone and is now moving toward the target zone as predicted. ✅ With half of the move already successful, momentum is building for the next leg up!

Will the price hit the final target at the 200 EMA? 📊 Let’s watch how it unfolds! 👀🔥 #Forex #EURGBP #TechnicalAnalysis

19 lut

Transakcja zakończona: osiągnięto poziom stop