EURGBP: A possible CHANNEL BREAKOUT!
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🟢Forex Pair:
EUR/GBP
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting descending channel, breaking through the S/R level at about 0.89300, getting many rejections on the support level at about 0.88100.
It is currently re-testing the same level and the next price action around that zone will be essential to understand the next market movement.
🔴Conclusion:
The price seems to be not strong enough to break the current support zone.
I'm confident to see it getting one more rejection, moving up with a bullish impulse until the next S/R level at about 0.89200.
I'll be waiting for the breakout of its channel before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
EUR/GBP
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting descending channel, breaking through the S/R level at about 0.89300, getting many rejections on the support level at about 0.88100.
It is currently re-testing the same level and the next price action around that zone will be essential to understand the next market movement.
🔴Conclusion:
The price seems to be not strong enough to break the current support zone.
I'm confident to see it getting one more rejection, moving up with a bullish impulse until the next S/R level at about 0.89200.
I'll be waiting for the breakout of its channel before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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