EURGBP | Hidden Bearish Divergence
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Currently, EURGBP is in an uptrend, making new higher highs and higher lows as the price moves upward. However, a double top has formed, and the price has broken the recent low, indicating that the structure is beginning to shift into a downtrend. This suggests the market may soon start printing new lower highs (LH) and lower lows (LL).
Additionally, on the 4-hour time frame, there is a hidden bearish divergence, further indicating a potential trend reversal into a downtrend. The combination of the double top formation and the hidden bearish divergence strengthens the likelihood that the trend will change, leading to the formation of new lower highs and lower lows.
In summary:
1: Current Uptrend: EURGBP has been making higher highs and higher lows.
2: Double Top Formation: Suggests a potential reversal at a key resistance level.
3: Break of Recent Low: Indicates a shift towards a downtrend.
4: Hidden Bearish Divergence: On the 4-hour time frame, confirming the likelihood of a trend change.
5: Expectation: The trend may soon shift to a downtrend, with new lower highs and lower lows likely to form.
These confirmations suggest that while the EURGBP has been in an uptrend, But rejected from its daily supply zone the recent developments point to a possible reversal into a downtrend. It is important to monitor these indicators closely and consider them in your analysis before making trading decisions.
Additionally, on the 4-hour time frame, there is a hidden bearish divergence, further indicating a potential trend reversal into a downtrend. The combination of the double top formation and the hidden bearish divergence strengthens the likelihood that the trend will change, leading to the formation of new lower highs and lower lows.
In summary:
1: Current Uptrend: EURGBP has been making higher highs and higher lows.
2: Double Top Formation: Suggests a potential reversal at a key resistance level.
3: Break of Recent Low: Indicates a shift towards a downtrend.
4: Hidden Bearish Divergence: On the 4-hour time frame, confirming the likelihood of a trend change.
5: Expectation: The trend may soon shift to a downtrend, with new lower highs and lower lows likely to form.
These confirmations suggest that while the EURGBP has been in an uptrend, But rejected from its daily supply zone the recent developments point to a possible reversal into a downtrend. It is important to monitor these indicators closely and consider them in your analysis before making trading decisions.
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TP 1: Hitأغلقت الصفقة: تم الوصول للهدف
TP 2: Hitأغلقت الصفقة: تم الوصول للهدف
TP 3: Hitأغلقت الصفقة: تم الوصول للهدف
All TP's Hit :-)
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