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Eur-gbp

💶💷EUR/GBP Still Rising💶💷💶💷EUR/GBP Still Rising 💶💷My outlook on EUR/GBP has not changed at all. 💶💷As I perfectly predicted in the previous post the possibility of rises: 💶💷I still believe that the resistance zone marked on the chart is within a few days/weeks range 💶💷The technical environment is very much supportive of an upward perspective. Looking at the fact that we are above the 50 and 200 moving averages and the MACD and RSI are generating pro-growth signals. I have no doubts about the higher probability of upside. 💶💷The scenario I am playing out is a continuation of the upside to the vicinity of the resistance zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💶💷*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
7
EURGBP Resistance test. Aiming higher as planned.The EURGBP pair hit today the 0.88315 Resistance (November 09 High) after recently breaking above the 1D MA50 (blue trend-line). On our last analysis almost 2 months ago (October 29), we talked about this long term buy opportunity either on the 1D MA200 (orange trend-line) or the 1D RSI Support Zone: Both conditions were met, so if you got positioned then, you may book the short-term profit now and re-buy if/ when the price breaks above the Resistance. The long-term pattern remains a Bullish Megaphone since the March 07 Low. As previously mentioned, since the previous Higher Highs were made after breaking the 1.5 and 2.5 Fibonacci extension levels respectively, we can assume that the next one will be on the same progression, i.e. the Fib 3.5, which is currently at 0.92835. This is our long-term target. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
3
UK already in recession? EUR/GBP to further advance higher? Daily Insight UK already 3 months deep into recession; EUR/GBP to hold recent gains? Latest GDP data from the UK indicated that the UK fell deeper into a recession during the last 3 months while year on year GDP fell -52.5% TECHNICAL COMMENTARY EUR / GBP : the EUR has gained +4.5% against the GBP year to date and +1.3% during the last 30 days Current price seems to be holding onto recent gains made over the last 5 trading sessions; the break above the its 50 day moving average at 0.8660 could be seen as keeping further upside prospects intact; key resistance spotted near 0.8830 (November 9th high) which if cleared places the 0.8970s in sight ( 38.2% retracement from the 13 week high), downside risk seen near 0.8660 (see chart ). Not investment advice. Past performance is not indicative of future results.
Long
by Skilling
💶💷EUR/GBP Heading North💶💷💶💷EUR/GBP Heading North. 💶💷After the huge rise that took place on 15 December. 💶💷EUR/GBP steadily holding around the 0.236 level of the entire downward wave. 💶💷The nearest resistance is around the 0.382 level of the entire downward wave. 💶💷Support zone remains around the last bottom 💶💷Looking at the technical environment MACD, RSI and the fact that we are above the moving averages. I have no doubts about the continuation of the upward movement. 💶💷The scenario I am playing out is a continuation of the upside to the vicinity of the resistance zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
2
EURGBP a bounce over the support? 🦐EURGBP on the 4h chart has tested a few times the weekly support. The price is trading below a descending trendline and according to Plancton's strategy IF the price will break below we will set a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
InvestMate|EUR/GBP Continuation Of Declines Looming💶💷💶💷EUR/GBP Continuation Of Declines Looming 💶💷Post is a direct continuation of my previous post in which I announced the continuation of the declines on EUR/GBP: 💶💷As you can see, it didn't take long for any reaction to confirm the continuation of the declines. 💶💷Today's movement exceptionally confirmed my assumptions. 💶💷The first support zone ahead of us was determined by a cluster of two fibo levels. The first is 0.236 of the downward wave from the peak of 2020 to 2022 bottom. The second level is 0.382 of the upward wave from the 2015 bottom to the 2020 peak. 💶💷There is one more zone below this zone which I think will be the target over the months. The first level with which it was determined is 0.886 of the upward wave from the bottom 0.4.03.2022 to the peak 22.09.2022. The second level is 0.5 of the downward wave from the peak 2008 to the bottom 2015. 💶💷The scenario I'm playing out is a continuation of the declines, respecting support zones along the way. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description. 💶💷*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
12
EUR/GBP No chance for growth💶💷💶💷EUR/GBP No chance for growth. 💶💷As I have written many times before, my opinion remains unchanged, I still believe that we are in for declines on the EUR/GBP pair. 💶💷Link to previous posts: 💶💷I am again bringing you an Update to give you my perspective and current thoughts. 💶💷The chart has been updated with new support and resistance levels. 💶💷 Let's start with the resistance level we are at. 💶💷It was determined by a cluster of fibo levels. The first is the 0.618 level of the entire upward wave from bottom to top, the second is the 0.786 level of the entire recent upward correction. As you can see, the price has repeatedly found either resistance or support at these points. 💶💷 There are support zones ahead in the south direction. 💶💷The first one was determined by the 1.272 level of the entire upward correction and we can see that the price has paid attention to this price level in the past. 💶💷The second was determined from a cluster of levels. The first is the 0.786 level of the entire bottom-to-peak wave and the second is the outer level of 1.618 of the last upward correction. 💶💷The scenario I am playing out is a continuation of declines to support zones with the possibility of corrections along the way. If the perspective would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
21
EURGBP on a break 🦐EURGBP on the 4h chart after the expected drop tested with a spike the weekly support area and closed the candle at the 0.886 Fibonacci level. The scenario remains bearish on this pair and some retracement to the 0.618 Fibonacci level can be seen. How can i approach this scenario? I will wait for a possible test of the enlighten level and if the price will provide a new sign of inversion i will consider a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
8
InvestMate|EUR/GBP Prepare for pound strengthening 💶💷💶💷EURR/GBP Prepare for pound strengthening . 💶💷In the current post we will again look at the situation on the EUR/GBP pair which I have described in previous posts: 💶💷This time I wanted to update some levels. 💶💷As we can see the EUR/GBP behaved exactly as I described in the previous post. 💶💷We broke through a strong support zone which we currently treat as resistance. It results from two measurements. The first is the level 0.618 of the entire upward wave and the second is the level 0.5 of the last upward impulse. 💶💷The support zone has also been updated with a new level of 0.786 which with the outer level of 1.272 of the entire last upward correction forms a cluster. As can be seen, price has also reacted at these levels in the past. I therefore consider it to be relevant. 💶💷The scenario that I have been playing out for almost weeks now is a gradual weakening of the euro against the pound with the aim of falling to the support zone and waiting there for a possible upward correction of the new downtrend. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
3
InvestMate|EUR/GBP Didn't I say so?💶💷💶💷EUR/GBP Didn't I say so? 💶💷As I wrote in my last post about the coming dips, as usual I was not wrong, this time it was time for an update. Link to the post below: 💶💷We will start with the fact that we broke through an important support zone and reached the 0.618 level from where I expect a retest of last resistance, the current support. 💶💷The new strong support zone I determined based on the measurement of the external fibo: 1.272 and levels where price has found resistance in the past. 💶💷 I expect a continuation of the downtrend which can only gain strength in the coming months. 💶💷💷The scenario I am playing out is a continuation of the southward direction, not excluding a test of the current resistance zone. 💶💷For fundamental data justifying the declines, I refer again to the previous post. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
10
InvestMate|EUR/GBP Continued declines💶💷💶💷EUR/GBP Continued declines. 💶💷This time it's time for the EUR/GBP pair. 💶💷Over a while has passed since my last post on this one. Enough time for the sellers to attack again. 💶💷That's just like my bearish attitude. 💶💷I will briefly outline the fundamental situation of both currencies. 💶Beginning with the Euro: 💶Looking at economic growth in the Eurozone we are at levels of 2.1% This is quite average looking at the past. 💶 Unemployment in the Eurozone is falling the latest readings on 3 November showed us falling to levels of 6.6% compared to last year's reading of 6.7%. 💶 Ahead of us next week, on 17 November to be exact, are the readings on inflation, which stood at 10.7% on 31 October. The market is betting on inflation slowing down. In the coming months. Which may reduce the push for the next interest rate hike. 💶 Eurozone interest rates were raised by 75 basis points at the last counci meeting on 27 October to levels of 2%. 💷Now what is the situation in the UK: 💷 UK economic growth also slows is currently 2.4%. 💷We will find out about unemployment tomorrow 15 November. We are currently at 3.5%. The market is not entirely convinced whether we will maintain this level or increase. tradingeconomics.com 💷Inflation continues to rise we have 10.1% so far but the market expects a further rise, which may prompt the monetary policy council to remain mostly hawkish. 💷 Rates were raised to 3% on 3 November and so far there is no sign of us slowing down in the near future. 💷I would also like to add that a few weeks ago the Central Bank of England announced unlimited asset purchases which may influence the strengthening of the pound. 💶💷We see that the situation supports the upside scenario on the pound. 💶💷Transforming to the chart I will outline all the tools used in turn: 💶💷1 I have plotted a downward channel from peak to low. As we can see the price was in this channel for a long period of time and then the breakout occurred. 💶💷2. I determined the upward channel of the current upward correction. From which we broke out to the bottom and have now returned to the edge again. 💶💷2 I then measured the wave from peak to bottom using the fibo. 💶💷3. I determined the fibo wave from bottom to top to find future support zones. 💶💷4. I measured using the fibo grid the last downward wave of the current upward impulse. 💶💷4. I measured the largest downward wave in the downtrend and set a correction level of 1:1 💶💷5 I determined 3 support lines. (1). Around the 0.618 level of the wave of the current uptrend. (2). The zone at the last low plus is the 0.618 level of the largest downward wave. (3). The cluster of the 1.618 level of the current upward impulse plus the 1:1 level of the largest downward wave. 💶💷6. I have determined 2 resistance zones. (1). Based on the 0.236 level of the current uptrend, we can see that this has also been a vulnerable area in the past. (2). Based on the 0.382 level of the entire downward wave, also the price has respected this price level in the past. Currently, this resistance represents the top of the current impulse. 💶💷The scenario I am playing out is a gradual continuation of the weakening of the euro against the pound with minor corrections along the way. We are currently at an intervening price point. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
13
EUR GBP - FUNDAMENTAL DRIVERSEUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE At their previous meeting the ECB hiked by another 75bsp, and with HICP >9% it should keep the bank hiking for now. ECB sources notes the bank is planning to discuss QT at their Dec meeting. On spread fragmentation, the bank didn’t provide any new info or clarity on how the eligibility might impact countries like Italy and Spain. Until the BTP/Bund spread breaches 2.55%, markets will have to wait and see whether TPI can make a difference. The main driver for the EUR is the economic outlook, but there are a few different conflicting drivers. Gas supply from Russia remain closed (EUR negative), but energy reform plans have seen EU gas prices lose ground (EUR positive). The war in Ukraine remains a risk (EUR negative), but recent victories by Ukraine and the recapture of the strategic city of Kherson has been a more positive development (EUR positive). In the week ahead, flash PMIs for France & Germany will be the only major calendar highlight POSSIBLE BULLISH SURPRISES De-escalation or cease fire in Ukraine. Stagflation risks remains, but with lots of bad news priced any materially better-than-expected data could spark some relief. Given the EUR’s DXY weighting, better overall risk sentiment that pressures the USD should be supportive for the EUR. POSSIBLE BEARISH SURPRISES Escalation in Ukraine war that risks NATO involvement. Stagflation risks remains, even with lots of bad news priced any materially worse-than-expected data could see more pressure. Given the EUR’s DXY weighting, continued sour risk sentiment that supports the USD should be negative for the EUR. BIGGER PICTURE The fundamental outlook remains bearish with recent data pointing to a higher likelihood of a EZ recession. Current bearish drivers (geopolitics, stagflation, spread fragmentation, energy supply) outweigh the positives. Recession risks remain high and means incoming data like growth & inflation will be watched closely. For now, the focus for the EUR is on multiple fronts from energy to policy to geopolitics, which means we don’t want to be hasty with looking for new EUR trades and want a very clear reason and catalyst to trade the currency in the short-term. GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE A looming recession has been a key source of Pound weakness and has kept pressure on Sterling despite ongoing BoE hikes. At their NOV policy decision, the BoE’s updated projections showed a deeper and longer recession than previously thought, as well as a stern push back against current market pricing for the high implied rate path. However, rate markets did not respond to this with only marginal downside in terminal rate expectations. With the new budget now out of the way, the markets should turn their attention to what this means for the economic outlook, and means economic data & BoE policy should start to matter a bit more again. This week the highlight will be S&P Flash PMIs, but a slew of BoE speak will be interesting after the budget. POSSIBLE BULLISH SURPRISES With recession the base assumption, any incoming data that surprises meaningfully higher could trigger relief for the GBP. With focus on stagflation, any downside surprises in CPI or factors that decrease inflation pressures are expected to support the GBP and not pressure it. Any overly positive takes from BoE speak regarding the budget could be taken as a positive for Sterling. POSSIBLE BEARISH SURPRISES With recession the base assumption, any material downside surprises in growth data can still trigger short-term pressure. With focus on stagflation, any upside surprises in CPI or factors that increase more inflation pressures are expected to weigh on the GBP and not support it. Any overly negative takes from BoE speak regarding the budget could be taken as a positive for Sterling. BIGGER PICTURE The fundamentals for Sterling remain bearish with the UK already in a recession based on recent data. At least the new PM has provided some calm to the fiscal situation and political uncertainty though. Expectations are for a lot of pain ahead for the UK economy which means the fundamental outlook remains bearish.
by thunderpips
1