**EURGBP Long Trade Setup – April 16, 2025 (1H Timeframe)**
– **Pair**: EUR/GBP
– **Current Price**: ~0.85496
– **Trade Type**: **Long (Buy)**
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### **Technical Breakdown**
– **Support Zone**:
Marked in purple at the bottom of the chart, price has bounced off this support area, indicating buying interest.
– **Entry Point**:
Long position opened at **0.85400** right after the price bounced from support.
– **Stop Loss (SL)**:
Set at **0.85090**, just below the support zone, to limit downside risk in case of a breakdown.
– **Take Profit (TP) / Target**:
Positioned at **0.87160**, which aligns with the **resistance zone (R.S)**. This zone has previously acted as a supply area.
– **Left Shoulder (L.S)** and **Resistance Zone (R.S)**:
This pattern may be part of an inverse Head and Shoulders structure forming, with price expected to push upward into the R.S zone.
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### ️ **Trade Summary**
– **Risk**: ~31 pips
– **Reward**: ~176 pips
– **Risk-to-Reward Ratio (R:R)**: Approximately **1:5.6** – highly favorable
– **Trade Status**:
**Active** – price is slightly above the entry and moving upward
**Bullish momentum** looks to be developing after a clear support rejection