EUR/GBP May Rise

#trading_idea #EURGBP 💡

🔤🔤🔤🔤🔤🔤- Outlook

On the current EUR/GBP chart, the price is consolidating within a symmetrical triangle, indicating potential volatility ahead. The price is testing both support and resistance levels, creating uncertainty about the next move. The Bollinger Bands suggest a neutral stance, while Momentum (20) shows a slight bearish bias. The Bull Bear Power hovers around neutral, reflecting market indecision. Recent small-bodied candles reinforce this, and the symmetrical triangle hints at a breakout, either upward toward 0.8445 resistance or downward toward 0.8420 support.

🔼If the price breaks above the resistance at 0.8445, the pair could see a rally, potentially testing higher levels around 0.8465 or beyond. This move would confirm a bullish breakout from the symmetrical triangle pattern.
🔽Alternatively, If the price breaks below the support at 0.8420, it could trigger a bearish move, with the next target potentially around 0.8400. This would signal a continuation of the downward pressure indicated by the momentum and candlestick patterns.


🔴 Click "👍" if you think the price will rise and "👎" if you think it will fall.