🔍 Pattern: Falling Wedge
⏱️ Timeframe: 4-Hour
📈 Potential Move: +4.9% upside (~413 pips)
After a long consolidation phase within a falling wedge, EUR/GBP is showing signs of a potential breakout to the upside. Historically, this pattern tends to resolve with a bullish breakout.
💡 Trade Setup (Bullish Bias):
Entry: ~0.8424
Stop Loss: Below 0.8295
Take Profits:
TP1: 0.84791
TP2: 0.85299
TP3: 0.85779
TP4: 0.86502
Final TP: 0.87360
📊 Volume is beginning to build up, supporting the potential breakout scenario. If the wedge breaks upwards, we might see a similar move to the last bullish breakout (~4.9%).
🧠 Risk Management is Key!
Always trade with a solid plan and defined risk parameters.
#EURGBP #ForexTrading #TechnicalAnalysis #PriceAction #TradingSetup #BreakoutTrading #ForexSignals #FallingWedge
⏱️ Timeframe: 4-Hour
📈 Potential Move: +4.9% upside (~413 pips)
After a long consolidation phase within a falling wedge, EUR/GBP is showing signs of a potential breakout to the upside. Historically, this pattern tends to resolve with a bullish breakout.
💡 Trade Setup (Bullish Bias):
Entry: ~0.8424
Stop Loss: Below 0.8295
Take Profits:
TP1: 0.84791
TP2: 0.85299
TP3: 0.85779
TP4: 0.86502
Final TP: 0.87360
📊 Volume is beginning to build up, supporting the potential breakout scenario. If the wedge breaks upwards, we might see a similar move to the last bullish breakout (~4.9%).
🧠 Risk Management is Key!
Always trade with a solid plan and defined risk parameters.
#EURGBP #ForexTrading #TechnicalAnalysis #PriceAction #TradingSetup #BreakoutTrading #ForexSignals #FallingWedge
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