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Eur-gbp

0.8300 Target On the cards for EURGBP! Have a look at the above image (EURGBP M TF CHART): It was crucial that the monthly candle close convincingly below monthly 0.8500 psychological support. Support break and confirmation would likely lead this pair towards the swing low (0.8300) Now looking at the main chart (WEEKLY TF EURGBP), we can clearly see that the price is in a descending channel and likely headed towards 0.83000 level in the near future. However for every trade. a trader needs to evaluate the ideal entry point, SL and TP so that the risk reward ratio aligns in our favor. In this case as per the confluence factors on the chart below are the ideal entry instructions: TP: 0.83000 (swing low) SL: 0.87000 (swing high/channel high/W & M 50 EMA) IDEAL ENTRY TO HAVE 1:1 RR: 0.850000 So as we can see, for this trade to have ideal RR, we need the price to retrace towards 0.8500 level before we can make a short entry. We could see this happen this week as major banks have policy announcement which could make the EURO gain as its too oversold!. This could be a great opportunity to await deeper retracement and have a better RR for this trade. THIS JUST REPRESENT ONE OF MY ANALYSIS AND ITS NOT A TRADE SIGNAL. SIGNALS ARE USUALLY POSTED ONCE THE CRITERIA MEET IN A NEW POST WITH COMPLETE INSTRUCTIONS
Short
by FX618Analysis
EURGBP facing bullish pressure, potential for more upside! Price is reacting above the descending trendline resistance (now support). Price could potentially bullish from 1st support at 0.84528 in line with 38,2% Fibonacci retracement and 23.6% Fibonacci extension to 1st resistance at 0.84958 in line with 61.8 Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias further supported by how price is holding above the EMA. Otherwise price may bearish towards 2nd support at 0.84215 in line with Horizontal swing low and 50% Fibonacci extension. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub
EURGBP Bottom of Structure, Watch for bullish reversal Hello everyone: Also on my watchlist is EURGBP for potential bullish reversal opportunities. We can see after a strong bearish impulse phase, price falls into a larger, deeper correction. With few evenly swing highs and lows, a parallel channel correction is formed. These larger correction tends to be more neutral, and doesn't necessary have to continue that previous bearish price. Instead, what we get here on the lower time frame is a possible reversal correction at the bottom of the larger correction. If price can manage to reverse impulse up on the LTF, follow by bullish continuation correction, then expecting price to reverse to the top of the HTF channel correction. thank you
Long
by jojofang0901
40
EURGBP can broke the support 🦐EURGBP on the 4h chart is moving over a daily chart . The price after a first bounce has moved back to the support and according to Plancton's strategy if the market will break below we will set a nice short order. ––––– 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
4
EURGBP - 4H Short In Trend Bearish Engulfing SetupEURGBP has formed an in trend engulfing setup on the 4H time frame. The engulfing candle nearly engulfed 6 previous candles but didn't quite clear the previous candle high but the daily and weekly time frames supported this setup. Also, nearly all other EUR pairs are very bearish. The daily candle closed below a previous strong bullish engulfing. The weekly time frame has been bearish for the past 6 weeks. The 4am EUR retail sales high impact news event set up this trade. The engulfing candle closed @8am (CST) on Wednesday. Entry at 50% retracement level. SL set above engulfing candle high. TP set at 3X risk.
Short
by justinholtgrave
3
EURGBP testing a weekly support 🦐EURGBP on the daily chart is moving over a daily chart. The price after a first bounce has moved back to the support and according to Plancton's strategy if the market will break below we will set a nice short order. ––––– 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.
Short
by InkyGrip
6