Buy opportunity

לפני 4 ימים

EUR/GBP – 4H Chart Analysis
Overview:
EUR/GBP is displaying bearish momentum following a strong rejection at the key resistance zone. The price action, along with volume analysis and risk-reward dynamics, supports a short trade setup targeting lower support levels.

Trade Setup:
Instrument: EUR/GBP (FX)
Trade Type: Short (Sell)
Entry Zone: 0.84340 - 0.84380
Stop Loss: 0.84695 (Above recent highs and resistance)
Take Profit: 0.83270 (Next support level)
Risk/Reward Ratio: 1:3.02
Analysis:
Resistance Zone: The area around 0.84695 has acted as a significant supply zone, with price unable to break higher.
Support Zone: The target level at 0.83270 aligns with previous demand and historical price reactions.
Volume Profile: A high concentration of orders near the current levels suggests a bearish continuation.
Trend Structure: Lower highs and consistent selling pressure indicate a continuation of the downtrend.
Expected Move:
If EUR/GBP fails to reclaim 0.84695, we anticipate a drop toward the next major support at 0.83270, offering a high-risk-reward opportunity for sellers.