EURGBP: Bearish Divergence and Sell Opportunity
It's not the right time to trade in the Forex market as there are many unpredictable movements. I tried to find the most interesting setup, and from my point of view, it is EURGBP pair with a possible sell opportunity based on a bearish divergence.
The daily chart made a strong upward movement. We should try to catch a pullback. For this, we use the 1H timeframe and a trend reversal signal based on the bearish divergence in combination with bearish signals from MACD lines, a breakout below 0.91000 support, and a local uptrend line.
Stop orders must be placed above 0.91500 and profit targets at SMA100 and SMA200. If the price breaks the local swing high, be ready to see the further upward movement.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The daily chart made a strong upward movement. We should try to catch a pullback. For this, we use the 1H timeframe and a trend reversal signal based on the bearish divergence in combination with bearish signals from MACD lines, a breakout below 0.91000 support, and a local uptrend line.
Stop orders must be placed above 0.91500 and profit targets at SMA100 and SMA200. If the price breaks the local swing high, be ready to see the further upward movement.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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