Trade Signal:
Instrument: EUR/GBP
Timeframe: 4-hour chart
Strategy: Potential reversal play based on technical indicators and levels.
Entry Point:
Enter long near the current support level around 0.8236, as the price seems to be bouncing from a recent low.
Stop Loss:
Place the stop loss slightly below the recent low, at 0.8215 (visible red line as support break confirmation).
Take Profit:
Target the next resistance zone near 0.8311, as indicated by the upper marked area (approximately 0.90% from entry).
Risk-Reward Ratio:
The risk-to-reward ratio is favorable (around 1:3 based on stop loss and take profit levels).
Momentum Indicator:
The squeeze momentum oscillator at the bottom indicates diminishing bearish momentum (red bars shrinking). This could signify a potential reversal or bullish retracement.
Instrument: EUR/GBP
Timeframe: 4-hour chart
Strategy: Potential reversal play based on technical indicators and levels.
Entry Point:
Enter long near the current support level around 0.8236, as the price seems to be bouncing from a recent low.
Stop Loss:
Place the stop loss slightly below the recent low, at 0.8215 (visible red line as support break confirmation).
Take Profit:
Target the next resistance zone near 0.8311, as indicated by the upper marked area (approximately 0.90% from entry).
Risk-Reward Ratio:
The risk-to-reward ratio is favorable (around 1:3 based on stop loss and take profit levels).
Momentum Indicator:
The squeeze momentum oscillator at the bottom indicates diminishing bearish momentum (red bars shrinking). This could signify a potential reversal or bullish retracement.
GODO Capital Markets
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