Looking at the 4-hour level chart, EUR/GBP has broken below rising support. In the past, the EUR/GBP market has challenged and then stood on the rising support line, but it is obvious that the challenge has failed, and the current price is also under the support. However, there is still a strong support area under the current price, so we can first see the profit target to the lower support. Then go to observe the development of the market trend.
In terms of entry opportunities, you can pay attention to whether the EUR/GBP market at the 1-hour level can retreat to the position of 0.5 or 0.618 of the golden ratio, and you can consider entering the market to deploy empty orders. Then you can see that the upper resistance area is just at the position of the golden ratio of 0.5, but if the 1-hour market trend breaks through the golden ratio of 0.786, the market may change from idling to more.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
