ANALYSIS OF EURGBP TRENDS WITH DOWN

أول أمس

The chart represents the EUR/GBP currency pair on the 4-hour timeframe using Heikin Ashi candles. Here’s the analysis:

Observations:

1. Resistance Zone:

A strong resistance level is marked around 0.8327, indicating repeated price rejection at this zone (highlighted by orange circles).



2. Support Levels:

Two prominent blue lines represent key support levels:

First Support: 0.8260

Second Support: 0.8223 (Diamond Zone), which is the significant area of interest.




3. Diamond Pattern:

A "diamond zone" is identified as a potential key breakout/breakdown area. This structure often indicates an upcoming price move.



4. Trendlines:

A yellow trendline shows the recent downward momentum.

The price action suggests the possibility of lower highs and lower lows, implying bearish sentiment.



5. Projected Movement:

Blue arrows indicate a bearish outlook:

The first downward move targets the first support level.

If breached, the price may head toward the diamond zone (second support level).





Conclusion:

Bearish Bias: The chart suggests EUR/GBP may continue its bearish movement, especially if the resistance at 0.8327 holds strong.

Trading Strategy:

Entry: Look for confirmations (e.g., rejection candles or strong bearish momentum) near resistance for potential short positions.

Targets:

TP1: 0.8260

TP2: 0.8223 (diamond zone)


Stop Loss: Place it above 0.8330 to protect against invalidation of the bearish setup.



Monitor price action at key levels for confirmation.