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EURGBP

EURGBP INTRADAY overbought retracement EUR/GBP maintains a bullish bias, supported by the prevailing upward trend. Recent intraday movement indicates a corrective pullback toward a key consolidation zone, offering a potential setup for trend continuation. Key Support Level: 0.8525 – previous consolidation range and pivotal support Upside Targets: 0.8736 – initial resistance 0.8787 and 0.8900 – extended bullish targets on higher timeframes A bullish reversal from 0.8525 would suggest continuation of the uptrend, confirming buying momentum. However, a decisive break and daily close below 0.8525 would invalidate the bullish structure, opening the door for further retracement toward 0.8460, with additional support at 0.8370 and 0.8300. Conclusion EUR/GBP remains bullish above 0.8525. A bounce from this level supports further gains. Traders should watch for confirmation signals before positioning for the next move. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
2
Bullish continuation?EUR/GBP has bounced off the pivot which is a pullback support and could rise to the 128.2% Fibonacci resistance. Pivot: 0.8608 1st Support: 0.8527 1st Resistance: 0.8767 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
EURGBP SHORT FORECAST Q2 W16 D16 Y25EURGBP SHORT FORECAST Q2 W16 D16 Y25 Morning All, A short forecast to begin a monday morning! Weekly order block rejection to start the week. Bullish pressure visible therefore as always, we await confluences prior making an assumption. In addition, we accept another reason for the trade to play against us - the weekly wick high, there is always a chance this is filled prior the turn around in price action however, if a break of 15' structure is presented, that risk will be accepted. Happy to get involved in either of the set ups illustrated- set up 2 is clearly the "risky" trade of the two BUT did we ever forget our role is to manage risk. Set up two however have an added confluence of Tokyo range to be filled, pulling price action short. I trust the chart analysis is becoming self explanatory. Let's see how EURGBP plays! FRGNT X
Short
by JCFRGNT
EUR/GBP Analysis – Bearish Breakdown from Rising Wedge📊 EUR/GBP Analysis – Bearish Breakdown from Rising Wedge | Short Trade Setup ⏱️ Timeframe: 45-Minute 💱 Pair: Euro / British Pound (EUR/GBP) 📅 Date of Analysis: April 14, 2025 📉 Market Bias: Bearish (Short Setup) 🧠 Technical Pattern Analysis: Rising Wedge (Bearish Reversal) The market formed a Rising Wedge pattern, a well-known bearish reversal formation that typically signals weakening bullish momentum before a price drop. The wedge began forming after a bullish rally from the support zone (0.85000–0.85200). Price made successive higher highs and higher lows, but the slope of the upper and lower trendlines started to converge — a clear sign of exhaustion in buying pressure. Price action tested the resistance zone (0.86800–0.87000) multiple times but failed to break higher, forming a series of wicks and rejections near this level. Eventually, the market broke down below the lower wedge trendline, confirming the bearish reversal. This breakout is supported by strong bearish candles and a shift in structure, where lower highs and lower lows begin forming. 🧱 Structure Breakdown: Key Levels 🔹 Support Zone – 0.85000 to 0.85200 A strong historical level where price previously consolidated before launching upward. This zone now becomes the final downside target for the short setup. 🔺 Resistance Zone – 0.86800 to 0.87000 Multiple rejections from this level created a strong supply zone. This is where the wedge topped out, confirming market hesitation. 📍 Breakout Confirmation The wedge breakdown occurred after a rejection from resistance. The retest of the wedge breakdown line gave an opportunity for a safe short entry confirmation. 📌 Trade Setup: Bearish Outlook ✅ Entry Idea Entry Price Range: Around 0.86200–0.86400 after wedge breakdown and retest confirmation. ❌ Stop Loss (SL) Set at 0.87001, just above the recent swing high and above the resistance zone. Provides safety in case of a false breakout or a sudden news spike. 🎯 Take Profit Targets TP1: 0.85860 This is a local support level and a short-term structure break zone. Ideal for partial profits or break-even adjustment. TP2: 0.85408 Aligns with the previous major support and completes the measured move of the wedge. Strong confluence zone – high-probability final take-profit area. Target Zone (Support): 0.85418 Just below TP2, covering wick-based support for added confirmation. 🔍 Confluence Factors ✅ Rising Wedge Breakdown ✅ Bearish Price Action Post-Pattern ✅ Multiple Rejections at Resistance Zone ✅ Fibonacci Retracement Alignment (Not shown but implied) ✅ Clear Swing Highs/Lows with Momentum Shift 💡 Risk-Reward Overview Risk (Stop Loss): ~60 pips Reward: ~150 pips (to TP2) R:R Ratio: ~1:2.5 or better — excellent for intraday swing setups 🧠 Professional Commentary This EUR/GBP setup is a textbook case of a rising wedge giving way to a clean breakout and trend reversal. The support and resistance levels are well defined, and the market behavior around those zones indicates strong institutional involvement. Traders can expect increased volatility around support, so a trailing stop or partial profit strategy near TP1 is advisable. If price respects the bearish momentum and breaks below 0.85800 decisively, there's a high probability of continuation toward 0.85400–0.85200. 📎 Summary of Trade Idea Component Level Pattern Rising Wedge (Bearish Reversal) Entry Zone 0.86200–0.86400 Stop Loss 0.87001 TP1 0.85860 TP2 0.85408 Final Target 0.85418 Risk-Reward ~1:2.5
Short
by Royalfxsignal
Trading Idea: EUR/GBP Bearish Reversal – Rising Wedge Breakdown📌 Chart Pattern: Rising Wedge The pattern highlighted in this chart is a Rising Wedge, a classic bearish reversal formation that develops during an uptrend. It is characterized by converging trendlines—both rising, but with the support line (lower trendline) rising more steeply than the resistance line. This indicates diminishing bullish momentum despite higher prices. 🧱 Structure Breakdown: Prior Uptrend: A healthy bullish trend formed the foundation of the wedge, where buyers dominated and continued to push prices upward. Wedge Formation: As the price advanced, the swings began to compress, and momentum faded. The price made higher highs and higher lows, but each push upward was smaller than the last, suggesting a loss of strength. Bearish Reversal Signal: A strong breakdown below the lower support line of the wedge confirmed the bearish setup. This is where institutional sellers often step in aggressively. 🔍 Key Technical Levels: Level Description 0.8709 Resistance & SL zone – Price rejected this level several times, forming the top of the wedge. Ideal for placing the stop loss above to protect from false breakouts. 0.8670–0.8682 Support Zone – Once this area broke down, it acted as resistance on the retest. Confirmation of bearish move. 0.8556 (TP) Target Point – Aligned with historical price support. This level was chosen based on the height of the wedge and prior demand zones. 📉 Trade Setup Plan: Entry: After the breakdown and retest of wedge support (~0.8680) Stop Loss (SL): Just above the wedge resistance and key rejection level at 0.8709 Take Profit (TP): Projected move to 0.8556, aligning with previous support and measured move logic 🧠 Pattern Psychology & Market Sentiment: The Rising Wedge reflects a market losing momentum in a bullish trend. Here’s what happens psychologically: Buyers dominate early in the trend and push the price higher. As resistance gets closer, each bullish push gets weaker, indicating lack of fresh buying pressure. Sellers begin to step in, creating tighter price swings and compressing momentum. A breakdown below the wedge support signals that the last bullish buyers are exiting, and short-sellers take control. The price accelerates downward with increased volume and momentum after the breakdown. This shift from accumulation to distribution leads to a price reversal. 🔐 Risk Management & Trade Quality: This is a technically sound setup with: Clear entry, SL, and TP levels based on structure Strong risk-to-reward ratio (R:R) Pattern supported by market structure and price action Entry only after confirmation retest, reducing the chance of fakeouts 📋 Conclusion: This EUR/GBP setup is a textbook bearish play off a Rising Wedge pattern. A confirmed support break, retest rejection, and strong price reaction point to a high-probability short opportunity. This strategy suits swing traders or short-term position traders, and aligns with classic technical analysis principles used by professional traders.
Short
by Royalfxsignal
EURUSD Monthly : BULL-Market will be Start for EURHI Guys, As you can see, the trend line has been broken very strongly and with the structure changing to lower time frames as well, given the easing of the political crises in Europe. Weakening of the Dollar Index We have entered a new round of strength gains in EURUSD. SecondChanceCrypto ⏰ 13/april/26 ⛔️DYOR Always do your research. If you have any questions, you can write them in the comments below and I will answer them. And please don't forget to support this idea with your likes and comments.
Long
by Secondchancecrypto
Last Week’s FX Recap: April 7–11 (Zone Reactions & Trade Notes)📈 Weekly Forex Recap – Market Reactions & Lessons (Apr 7–11) Last week there were about +320 pips of reaction potential (excluding Gold, which I was completely off on). There were multiple opportunities to capture solid intraday or swing setups. 3 out of 6 weekly targets were hit. 5 out of 6 trend biases were either accurate or neutral —meaning no major misreads, aside from one or two volatile zones. The only pair that really got me was Gold. Let’s run it back real quick: ✅ AUDJPY Bearish bias accurate. 30 pip reaction off zone with just 1 pip drawdown. Weekly target hit. ✅ NZDJPY Bearish bias accurate. Weekly target hit, though price never reached the watch zone. No setup triggered, but direction was respected. ⚠️ EURUSD Range-bound bias played out majority of the week. Gave about 90–100 pip drop from the hot zone mentioned. Weekly target came close but didn’t hit. ⚠️ GOLD Watch zone completely failed. Short-term bounce gave 480 pip reaction—but that volatility was tough to catch cleanly. Directional bias wasn’t helpful here. Gold was chaos. ✅ EURGBP Cleanest setup of the week. Bias was bullish, price tapped the buy zone and ran 100 pips. Weekly target hit. Textbook move. ⚠️ GBPUSD Consolidation-heavy. Watch zone gave 100 pip reaction, but weekly target didn’t hit. Bias was unclear—no real conviction either way. 📉 Total Zone Reaction Potential: 320 pips 🎯 Weekly Targets Hit: 3/6 📊 Trend Accuracy: 50% (3 clear hits, 2 neutral, 1 miss) But that’s done now. Whether you hit it last week or fumbled the ball, let it go. We trade forward. Eyes up. Mind clear. Time to dive into the new week. Let’s get it. 👊
CAPITALCOM:DXY
by elevatedinvestor
EUR/GBP Weekly Chart Breakdown – Long-Term Bullish Reversal📈 EUR/GBP Weekly Chart Breakdown – Long-Term Bullish Reversal in Motion Pair: EUR/GBP Timeframe: 1W (Weekly) Instrument: OANDA Chart Type: Candlestick Date: April 13, 2025 Pattern: Falling Wedge + Range Breakout 📊 Macro Chart Context: Multi-Year Range Consolidation The EUR/GBP has been stuck in a broad horizontal range since early 2022, defined by: Strong support at the 0.82000 level — a price floor tested multiple times. Resistance around 0.90400 — a ceiling where bulls were consistently rejected. This multi-year range reflects a long period of market indecision between the euro and pound, with price compressing tighter over time — a textbook environment for an explosive breakout. 📐 Primary Pattern: Falling Wedge (Bullish Reversal Pattern) The highlight of this setup is the Falling Wedge, which developed over nearly three years. This wedge is formed by: A down-sloping resistance line connecting lower highs. A down-sloping support line connecting lower lows. Multiple touches on both boundaries (marked with orange circles), confirming pattern validity. ✅ Key Characteristics of the Wedge: Wedges that form after downtrends and break to the upside are bullish reversal signals. In this case, the wedge shows declining bearish momentum — price kept making lower lows, but with decreasing volatility and volume. The breakout happened with strong momentum, confirming a shift in market sentiment. 🧱 Support & Resistance Zones 🟩 Major Support: 0.82000 This level has held the line multiple times since 2021. Marked by a double/triple bottom formation inside the wedge. Acts as the risk management anchor for this setup. 🟥 Resistance/Target Zones: TP1 – 0.85907: Former horizontal resistance inside the wedge; this is a medium-term price objective post breakout. TP2 – 0.90418: Top of the consolidation range; represents the long-term upside potential if momentum sustains. 🧭 Trade Setup Summary Bias: Bullish (Long Position ) Entry Zone: After confirmed breakout + retest near 0.85000–0.86000 Take Profit 1 (TP1): 0.85907 Take Profit 2 (TP2): 0.90418 Stop Loss (SL): 0.82020 (Below wedge low and range support) Risk/Reward: ~1:3 to 1:4 depending on entry 📈 Technical Confluence for Bullish Bias ✅ Wedge Breakout – Reversal confirmation from falling wedge after prolonged downtrend. ✅ Strong Support – Base at 0.8200 has consistently rejected sellers. ✅ Structure Shift – Price breaking out of lower highs, confirming strength. ✅ Target Alignment – Both TP1 and TP2 match past price pivots. ✅ Momentum Surge – Bullish candles post-breakout indicate buyer strength. 🧠 Strategic Insight This setup is suited for swing traders and position traders who can tolerate wider stop-loss levels and are targeting multi-week or multi-month moves. Key Factors to Watch: ECB vs BoE monetary policy shifts. Inflation & GDP differentials between Eurozone and UK. Risk sentiment in broader FX markets (especially in the context of USD dynamics).
Long
by Royalfxsignal
1
EUR-GBP Bullish Bias! Buy! Hello,Traders! EUR-GBP is trading in a Strong uptrend and the pair Made a bullish breakout of The key horizontal level Of 0.8623 then surged Further up and is now Making a local bearish Correction so we are Bullish biased and after The retest of the new Support level we will be Expecting a further Bullish move up Buy! Comment and subscribe to help us grow! Check out other forecasts below too! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TopTradingSignals
1
EURGBP Massive Short! SELL! My dear subscribers, EURGBP looks like it will make a good move, and here are the details: The market is trading on 0.8674 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 0.8620 About Used Indicators: The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
EURGBP Short Term Buy IdeaH4 - Strong bullish momentum No opposite signs Expecting retraces and further continuation higher until the two Fibonacci support zones hold. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
EURGBP INTRADAY corrective pullback supported at 0.8450EUR/GBP maintains a bullish bias, supported by the prevailing upward trend. Recent intraday movement indicates a corrective pullback toward a key consolidation zone, offering a potential setup for trend continuation. Key Support Level: 0.8450 – previous consolidation range and pivotal support Upside Targets: 0.8576 – initial resistance 0.8616 and 0.8650 – extended bullish targets on higher timeframes A bullish reversal from 0.8450 would suggest continuation of the uptrend, confirming buying momentum. However, a decisive break and daily close below 0.8450 would invalidate the bullish structure, opening the door for further retracement toward 0.8417, with additional support at 0.8400 and 0.8373. Conclusion EUR/GBP remains bullish above 0.8450. A bounce from this level supports further gains toward 0.8576. A close below 0.8450 would shift the outlook bearish, exposing downside risk toward 0.8373. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
EUR/USD Nears Key Resistance – Will the Uptrend Continue?📊 EUR/USD Daily Technical Outlook – April 10, 2025 EUR/USD is currently trading around 1.0964, following a strong upward move from 1.0800 to 1.1000. This rally has been driven by strong momentum and a clear break of structural resistance levels. However, the pair is now approaching a critical resistance zone between 1.1150 and 1.1200, which could lead to a potential pullback or reversal. 📈 Current Market Structure: The pair has seen a solid rise from 1.0800, breaking through multiple resistance levels along the way. However, as it approaches the strong resistance area between 1.1150 and 1.1200, there may be some profit-taking or correction. The key question is whether the bulls can push through this resistance to continue the uptrend. 🔹 Key Resistance Levels: 1.1150 – 1.1200: This is the critical resistance zone. If price fails to break above this, we could see a pullback or consolidation. 1.1215: A further key resistance. If price reaches this level and struggles to move higher, it may signal a potential reversal. 🔸 Key Support Levels: 1.0960: Immediate support level. A pullback toward this area could offer another opportunity for buying if the bulls continue to dominate. 1.0800: Major support. A failure to hold this level could lead to further downside and shift the market sentiment to bearish. 📐 Price Action Patterns: As the price approaches the strong resistance zone, we might see profit-taking or corrective moves. It's crucial to monitor how price reacts at these levels to determine the next potential move. A break above 1.1200 could signal continued bullish momentum, while failure could lead to a retracement. 🧭 Potential Scenarios: ✅ Bullish Scenario: If EUR/USD manages to break through the 1.1150 – 1.1200 resistance zone, it could continue its uptrend toward higher levels. A close above 1.1200 would strengthen the bullish outlook. ❌ Bearish Scenario: If price fails to break through resistance and pulls back below 1.0960, a deeper correction toward 1.0800 could be on the cards. A break below 1.0800 would suggest a more bearish outlook. 📌 Conclusion: EUR/USD is at a critical resistance point. Watching how the pair reacts near 1.1150 – 1.1200 will be key in determining if the bullish trend can continue or if a correction is likely. These levels will act as the defining points for the next move. 💬 What’s your outlook for EUR/USD? Will the pair break above 1.1200, or is a bearish reversal imminent? Share your thoughts below 👇
Short
by Saeed966
6
Bullish rise?EUR/GBP has bounced off the pivot and could rise to the 1st resistance which lines up with the 50% Fibonacci retracement. Pivot: 0.8524 1st Support: 0.8493 1st Resistance: 0.8589 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
EURGBP SHORT FORECAST Q2 D9 W15 Y25EURGBP SHORT FORECAST Q2 D9 W15 Y25 Welcome back Traders! Here's my take. We have two points of interest here. As always you know how we look into every play. It is imperative we have a turn around of price action prior getting involved even more so when the point of interest is not an order block. My reasoning behind selection of the weekly/daily highs is simply due to how it aligns with market structure. IF we break the most recent Asia lows from that point of interest followed by a pull back into an order block that would have been created and left behind as a result. The short position will be entertained. With the above said, in reflection I am already having second thoughts but feel free ti dive into the way I chart and analysis. Would I risk capital from simply a high? It does not seem "smart". The above is scrapped and we must wait for price action to enter into the daily order block. Let us await a reaction from the area and again, show signs of a turn around. Await for 1'/5' break of structure and lower time frame order block creation. THEN! We arm our capital and take the short position for what I can foresee will be a worthwhile risk to reward. Trade well! FRGNT X
Short
by JCFRGNT
EURGBP Discretionary Analysis: Eyes on the SupplyIt's that feeling when you just know the tide's about to turn (like when you're waiting for the wind to pass but can already smell the rain). EURGBP is giving off that "Next stop? Supply zone" kind of vibe. I see it pushing up to test that level, like it's gearing up for a showdown. If I'm right, I'll be eyeing some clean entries to make a move. If I'm wrong, I'll just grab a coffee and wait for the next opportunity to roll in. Just my opinion, not financial advice.
Long
by davidavasalcai
29
EUR/GBP: Monthly Resistance Test, Rising Risk of PullbackEUR/GBP has recently shown a strong bullish acceleration, breaking decisively above the consolidation zone between 0.8285 and 0.8480, and reaching the monthly resistance area around 0.8580–0.8600. This zone, highlighted on the chart with a marked red and grey band, represents a historically significant selling area—already tested earlier this month and revisited again today. The strong upward expansion has been accompanied by an RSI nearing extreme levels, indicating a possible and imminent loss of bullish momentum. From a technical perspective, the current setup reveals an active supply zone that could trigger a pullback, especially if the price fails to close decisively above the weekly and monthly highs. Potential profit-taking may drive the pair back toward the intermediate balance zone around 0.8450–0.8480, which would serve as the first dynamic support level. Only a clear and confirmed breakout above 0.8600 would open the door for further bullish continuation, with targets toward 0.8650 and beyond. Strategically, caution is advised at this stage: traders already long may consider scaling out near resistance, while those eyeing short entries could find opportunities on reversal signals or confirmation of rejection from the current zone.
Short
by EdgeTradingJourney
1
EURGBP: Potential sell setup towards 0.8500?OANDA:EURGBP has reached a notable resistance level, an area that has been a clear turning point in the past, leading to some notable reversals. Given this, there is once again potential for a bearish reaction if price action confirms rejection, such as a bearish engulfing candle, long upper wicks or increased selling volume. If the resistance level holds, I anticipate a downward move toward 0.8500 , which for me is quite an achievable target now. But if the price breaks above this zone and sustains above it, the bearish outlook may be invalidated, leading to further upside. Just my take on support and resistance zones, not financial advice. Always confirm your setups and trade with solid risk management.
Short
by TrendDiva
29
EURGBP Is Going Down! Sell! Take a look at our analysis for EURGBP. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 0.855. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.846 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
EUR/GBP SHORT FROM RESISTANCE Hello, Friends! EUR-GBP uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.852 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the EUR/GBP pair. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ✅LIKE AND COMMENT MY IDEAS✅
Short
by EliteTradingSignals
1