EURGBP: Will Start Falling! Here is Why:
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current EURGBP chart which, if analyzed properly, clearly points in the downward direction.
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Eurgbp!
EURGBP I Analysis update & risk management tip Welcome back! Let me know your thoughts in the comments!
** EURGBP Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EURGBP Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.85500 zone, EURGBP was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.85500 support and resistance area.
Trade safe, Joe.
EURGBP: Short term rebound initiatedEURGBP is neutral on its 1D technical outlook (RSI = 53.577, MACD = 0.001, ADX = 12.005) as it is ranges between the 1D MA50 (Support) and 1D MA200 (Resistance). Having made a Double Bottom on S1 on March 8th, with that level holding since August 23rd 2023, the current rebound is expected to extend to the LH trendline, essentially the top of the Descending Triangle. The Bullish Wave before this one, crossed the 0.5 Fibonacci level and then reversed, which gives us a TP = 0.86400.
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Strifor || GBPUSD-Week StartingPreferred direction: BUY
Comment: The British currency showed resistance against the US dollar last week, but short-term weakening is not excluded (scenario №2) . Medium-term prospects remain in favor of the buyer, and an approach to the level of 1.28000 is still expected.
Scenario №1 is a higher priority, but a potential short-term weakening and fall towards the level of 1.25500 is not excluded. The week will contain a huge amount of published economic data, especially from the USA . Against this background, volatility and big movements can be expected. And despite the potential short-term weakening, the buy-priority still remains in the medium term.
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EURGBP H4 | Bearish reversalBased on the H4 chart analysis, we can see that the price is rising toward our sell entry at 0.8561, which is a pullback resistance that is close to the 38.2% Fibo retracement.
Our take profit will be at 0.8531, a multi-swing low support level.
The stop loss will be placed at 0.8585, a multi-swing high resistance level
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EURGBP What Next? SELL!
My dear friends,
Please, find my technical outlook for EURGBP below:
The price is coiling around a solid key level - 0.8572
Bias - Bearish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.8550
Safe Stop Loss - 0. 8583
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
EURGBP: Long Trading Opportunity
EURGBP
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long EURGBP
Entry Point - 0.8542
Stop Loss - 0.8534
Take Profit - 0.8561
Our Risk - 1%
Start protection of your profits from lower levels
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British Pound can fall to support level and then rebound upHello traders, I want share with you my opinion about British Pound. If we look at the chart, we can see how the price some days ago it rebounded down from the 0.8575 resistance level and broke it, after which the price started to trades in the range, where it declined to the 0.8530 support level, which coincided with the buyer area. Then GBP bounced from this level and quickly rose to the resistance level, after which turned around and made impulse down to 0.8500 points, thereby exiting from the range and breaking the support level with the buyer area. But soon, the British Pound turned around again and started to rise in an upward channel, which soon broke the 0.8530 level again and reached the resistance line of the channel. After this movement, the price corrected the support line and then made a strong impulse up to 0.8600 points, thereby exiting from the upward channel and breaking the 0.8575 resistance level, which coincided with the seller zone. But a not long time ago price started to decline and fell lower resistance level, breaking it again, and now GBP trades near the support level. So, I think the British Pound can decline to support level again, after which it will turn around and start to move up. For this reason, I set my target at the 0.8560 level. Please share this idea with your friends and click Boost 🚀
EURGBP Under Pressure! SELL!
My dear friends,
Please, find my technical outlook for EUR/USD below:
The instrument tests an important psychological level 0.8570
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.8551
Recommended Stop Loss - 0.8581
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
Strifor || GBPUSD-28/03/2024Preferred direction: BUY
Comment: The Briton is also on the buy list, and here we largely adhere to the previous two scenarios that we gave at the beginning of the week. But long-trades should be noted that they are relevant already at current prices. Scenario №1 can already be considered active. Here we can also expect a slight update of the lows at the level of 1.25700 . In addition, we are keeping scenario №2 in reserve, especially when a surge in volatility is expected at the end of this week.
Our main growth target is still located at the level of 1.28000 .
Additional comments on this trade will be provided as situation changes. Follow us!
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Strifor || EURUSD-28/03/2024Preferred direction: BUY
Comment: Today and tomorrow are the most active days in terms of the economic background. We continue to expect a medium-term reversal of the US dollar and continue to accumulate long positions against the American currency. Previously, we highlighted two scenarios for EURUSD , where scenario №1 is already in progress. But there remains a high probability of a short-term strengthening of the US dollar, in connection with this scenario №2 for the EURUSD currency pair remains, and we are waiting for a likely approach to the level of 1.07600 .
The first growth target is located at the level of 1.09000.
Additional comments on this trade will be provided as situation changes. Follow us!
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EUR/GBP BEARISH BIAS RIGHT NOW| SHORT
Hello,Friends!
EUR/GBP pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 6H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 0.854 area.
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Strifor || EURUSD-Week StartingPreferred direction: BUY
Comment: Despite the significant strengthening of the US dollar , we will be more buy-first in the coming weeks. The prospect of a purchase is planned within 1–2 weeks , that is, we are dealing with a medium-term trade.
At the beginning of the week, we highlight two scenarios, where scenario №1 assumes a slight update of the local minimum before growth towards the level of 1.09500 , and scenario №2 - a deeper fall before the same growth, below 1.07500 . We also note the level of 1.10000 as a potential second target.
Additional comments on this trade will be provided as situation changes. Follow us!
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EURGBP Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.85500 zone, EURGBP was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.85500 support and resistance area.
Trade safe, Joe.
EURGBP I Potential rising trend and 50% fib rejectionWelcome back! Let me know your thoughts in the comments!
** EURGBP Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
Buy EURGBP Bullish PennantThe EUR/GBP pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of the prior uptrend after a brief consolidation phase.
Key Points:
Buy Entry: Consider entering a long position (buying) around the current price of 0.8576, positioned near the support line of the pennant. This offers an entry point close to the perceived continuation of the uptrend.
Target Levels: Initial bullish targets lie at the following levels:
0.8616: This represents the height of the pennant, measured from the top trendline to the bottom trendline, projected upwards from the breakout point.
0.8640: This is a further extension of the upside target, based on the height of the previous price movement before the pennant formation.
Stop-Loss: To manage risk, place a stop-loss order below the support line of the pennant, ideally around 0.8560. This helps limit potential losses if the price breaks down from the pennant pattern.
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