EURGBP Long Setup as ECB-Growth Outlook Supports Euro
Today, I’d like to share a trading opportunity on the EURGBP pair( OANDA:EURGBP ), so stay with me!
Let’s start with a brief fundamental overview. EUR is likely to rise against GBP as the ECB may keep the rate unchanged, and euro growth may appear stronger compared to GBP, which is likely to decline or depreciate slowly.
Currently, EURGBP is hovering near a support zone(0.8664 GBP-0.8651 GBP).
From an Elliott Wave perspective, it seems that EURGBP has completed a zigzag corrective pattern(ABC/5-3-5), and we can now anticipate the next bullish wave.
I expect EURGBP to soon begin an upward trend and target the resistance zone. If that resistance zone(0.8698 GBP-0.8688 GBP) is broken, we can look for further upward movement toward the resistance lines.
First Target: 0.8697 GBP
Second Target: 0.87105 GBP
Stop Loss(SL): 0.8649 GBP(Worst)
Points may shift as the market evolves
Do you think EURGBP can resume its upward trend?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Euro/British Pound Analysis (EURGBP), 4-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
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