(EUR | GBP) Forex Trading Analysis Today Forex Forecast | May 07, 2024 | EURGBP Analysis

muhammadfawad (66)adminin Forex Update • last month

Forex Trading Analysis

Hello Guys today is Tuesday, May 7th, 2024 I am going to analyze the Euro gbp currency pair let us start the top-to-bottom OT wave analysis inside the daily time frame the trend is up in Euro GBP currency pair daily time frame support is present at the the 0.8496 price level price action is most likely going to move sideways to complete bearish WX pullback and then rise to print bullish wave why double zigzag leg in coming trading days decisive bearish break below 0.8496 support area is going to end up Trend in daily chart of Euro GBP currency pair

At 4Hour time frame price action manages to break above the most recent swing high to me Euro GBP pair Trend looks sideways in 4Hour time frame

In 1-hour time frame, the trend is up 1-hour chart today support is present at 0.855 3 price level price action is most likely going to move sideways to complete bearishly with four pullbacks and then rise to print bullish with five impulses which offer a chance to join an uptrend in Euro GBP pair a decisive bearish break below 0.8553 support level is going to end up Trend in the 1-hour chart of Euro versus Great British Pound currency pair