EURGBP: technical analysis

A very quick and straightforward technical examination on EUR/GBP to orchestrate what we have mapped for the upcoming game-plan.

The year-long range (Daily timeframe)

Zooming out and observing the development for the past one year ending on 27/05/2024, it could be visually inferred that a vast number of opportunities have been formulated by the price of EUR/GBP for market participants to benefit from.


The potentially upcoming move (Daily timeframe)

Now, embracing the past and focusing on the present for a consistently profitable future, we will conduct an analysis on the ongoing build-up orchestrated by the price of EUR/GBP and give out a game-plan regarding the probably upcoming moves.

After an initial bounce off the local key level of 0.85, the price has had a 30-pip move in the upward destination, where it rejected the region of 0.853 and kept pushing in the southern direction in an aggressive manner. Here, we are looking fore the price to tap into the liquidity region laying below the local key zone, before potential bullish moves kick in and drive the price in the upside direction as mapped on the graph. We already have our limit orders set at the same liquidity zone that has been depicted on the chart, and we are aiming towards capturing a solid 1:4 risk-reward move in the direction of our target zone along with the Investroy Academy members.

Technically, if the price manages to reach the targeted level, there is a big chance that the sentiment might turn bullish and that the price might keep rising. However, it is always more beneficial to take one step at a time with no rush. Thus, if the game-plan plays out as desired, the next step will be that of conducting new evaluations and looking into making fresh entries along the course of actions.

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