🟡 EUR/GBP – Rounded Top Formation | Bearish Bias on 1H 📉
The EUR/GBP pair is showing a Rounded Top formation on the 1H chart — a classic distribution pattern indicating a potential bearish reversal. Price action has completed the arc, and it's currently testing support .
🔍 Key Technical Observations:
Rounded Top structure, signaling loss of bullish momentum.
RSI near 37, with no bullish divergence yet — bearish momentum still active.
Price failed to hold above 0.8637 resistance, confirming sellers’ control.
📉 Bearish Scenario (Primary Idea):
Entry: 0.86180 (short)
SL: 0.86370
TP (1:1): 0.85990
Also Seems Bearish in Days May Create Double Top trend can be streached.
The EUR/GBP pair is showing a Rounded Top formation on the 1H chart — a classic distribution pattern indicating a potential bearish reversal. Price action has completed the arc, and it's currently testing support .
🔍 Key Technical Observations:
Rounded Top structure, signaling loss of bullish momentum.
RSI near 37, with no bullish divergence yet — bearish momentum still active.
Price failed to hold above 0.8637 resistance, confirming sellers’ control.
📉 Bearish Scenario (Primary Idea):
Entry: 0.86180 (short)
SL: 0.86370
TP (1:1): 0.85990
Also Seems Bearish in Days May Create Double Top trend can be streached.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.