🌐 "EURGBP Forex Analysis - Short-Term Outlook" 📉
Let's thoroughly analyze this currency pair on the final day of the week to potentially open positions once the market resumes activity. 📊💰
In higher time frames, many currency pairs are currently consolidating without a definitive trend, but lower time frames reveal promising trends.🎯🕰️
On the daily timeframe, whenever we approached the downtrend line, corrections and red candles ensued in the market. 📉🕯️
This downtrend line could serve as a trigger for entering a long position. Presently, we've breached this trend line and even experienced a pullback, yet the retest of the trend line remains pending. Once 0.85818 is broken, this retest will be activated, marking a bullish short-term trend. 📈🔄
Should we face rejection from this area, the support at 0.85328 holds significant importance for lower time frames. Upon rejection, consider opening short positions promptly, and await the breach of the primary support at 0.84991 for further short entries. 🛑💼
In case you initiate short positions post the breach of 0.85328 in lower time frames, I suggest awaiting a retest of 0.84991. If a sharp move occurs, seize the opportunity to re-enter the market, and upon retest, consider increasing your position size. 🔄📉
While our targets typically align with risk-to-reward ratios, keep a close watch on resistance levels at 0.86228 and 0.86960, as well as support levels at 0.84991 and 0.84260. 🎯📉
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.💼⚠️
In higher time frames, many currency pairs are currently consolidating without a definitive trend, but lower time frames reveal promising trends.🎯🕰️
On the daily timeframe, whenever we approached the downtrend line, corrections and red candles ensued in the market. 📉🕯️
This downtrend line could serve as a trigger for entering a long position. Presently, we've breached this trend line and even experienced a pullback, yet the retest of the trend line remains pending. Once 0.85818 is broken, this retest will be activated, marking a bullish short-term trend. 📈🔄
Should we face rejection from this area, the support at 0.85328 holds significant importance for lower time frames. Upon rejection, consider opening short positions promptly, and await the breach of the primary support at 0.84991 for further short entries. 🛑💼
In case you initiate short positions post the breach of 0.85328 in lower time frames, I suggest awaiting a retest of 0.84991. If a sharp move occurs, seize the opportunity to re-enter the market, and upon retest, consider increasing your position size. 🔄📉
While our targets typically align with risk-to-reward ratios, keep a close watch on resistance levels at 0.86228 and 0.86960, as well as support levels at 0.84991 and 0.84260. 🎯📉
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.💼⚠️
