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Market Analysis: EUR/GBP Gains StrengthMarket Analysis: EUR/GBP Gains Strength EUR/GBP is gaining pace and might extend its rally above the 0.8570 zone. Important Takeaways for EUR/GBP Analysis Today EUR/GBP started a fresh increase above the 0.8535 resistance zone. There is a major bullish trend line forming with support near 0.8550 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a fresh increase from the 0.8500 zone. The Euro traded above the 0.8530 level to move into a positive zone against the British Pound. The EUR/GBP chart suggests that the pair settled above the 50-hour simple moving average and 0.8535. It traded as high as 0.8570 before there was a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the 0.8498 swing low to the 0.8570 high. Immediate support sits near a major bullish trend line at 0.8550. The next major support is near the 50% Fib retracement level of the upward move from the 0.8498 swing low to the 0.8570 high at 0.8535. A downside break below the 0.8535 support might call for more downsides. In the stated case, the pair could drop toward the 0.8515 support level. Any more losses might send the pair toward the 0.8500 level in the near term. Immediate resistance is near 0.8555. The next major resistance for the bulls is near the 0.8570 zone. A close above the 0.8570 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8620. Any more gains might send the pair toward the 0.8700 level in the coming days. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
⚡️Strifor || EURUSD-15/02/2024Preferred direction: BUY Comment: US CPI data strengthened the position of the US dollar , but nevertheless, the momentary collapse is quite significant intraday, and in the medium term, this downward impulse is not so terrible. As before, the medium-term vision remains in favor of the buyer, and a reversal can occur at any time. After the collapse to the level of 1.07000 , the market began to become saturated with BID-orders, which should have led to a price recovery, but this did not happen, which hints at the presence of a limit seller. In the short term, we highlight two scenarios. The differences between scenarios 1 and 2 lie in the depth of the likely false downward movement. This may be because there is a buyer who was unable to go higher; against this background, the limit seller can update the current minimums, and then begin to grow. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1
EURGBP Expected Growth! BUY! My dear friends, Please, find my technical outlook for EURGBP below: The instrument tests an important psychological level 0.8514 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 0.8535 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
⚡️Strifor || GBPUSD-15/02/2024Preferred direction: BUY Comment: Just like in the euro, we stubbornly continue to look closely at purchases in the pound. Of course, this idea has exclusively medium-term prospects. Scenario №1 is in the works, and scenario №2 may be activated in the near future. In this case, long entry points will need to be looked for near the level of 1.25000 . Regarding the targets, everything is unchanged - 1.27000 and 1.28000 are the main ones. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1
⚡️Strifor || GBPUSD-13/02/2024Preferred direction: BUY Comment: The buy-priority is still relevant for the pound this week. It should be noted here that the buying power is one of the strongest among the major currency pairs. Short- and medium-term prospects are in favor of the buyer. Inflation in the USA may, surely, make its own adjustments, but nevertheless, technically, the accumulated volume forces us to look more closely at buy-deals. The first level is, of course, level 1.27000 , and then 1.28000. In the longer term, we can expect a level of 1.29000. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1
Consolidated or Channeled??? - EGHere I have EUR/GBP on the 4Hr Chart! Price seems to be stuck in Consolidation but with a closer look, there tends to be a slight Rising Channel in the mix!! I suspect Next Week (Feb. 11th - 16th) we will see massive movement in this pair simply because of how heavy GBP is with news those days! Now initially this looks like a potential Bear Flag to me with this PA happening after a strong decline! BUT Being unbiased, if Price does find its way down to the Support Area, being unable to break and news for GBP comes in Negative, we could see EUR gathering Buying Pressure and price heading up!! Fundamentally the 11th-16th: EUR - Clear GBP - Gov Bailey Speaks (Mon), Claimant Count Change & AHE (Tue), CPI (Wed), GDP (Thu), Retail Sales (Fri)
by Novi_Fibonacci
British Pound can rebound up from buyer zone to 0.8570 levelHello traders, I want share with you my opinion about British pound. Looking at the chart, we can see how the price recently started to decline in a downward channel, where it soon fell to the support line and at once bounced up to the resistance line of the channel. Then GBP turned around and declined to the 0.8570 resistance level, which coincided with the seller zone, some time traded near and later declined lower this level, thereby breaking it. Also then, the price exited from the downward channel and started to trades in the range, where GBP in a short time declined to the 0.8515 support level, which coincided with the buyer zone with the bottom part of the range. After this, the price turned around and soon rose to the top part of the range, which coincided with the resistance level, but a not long time ago, GBP rolled down from this level and declined back to the buyer zone. As well recently price bounced from this area and tried to rise, but failed and now it continues to trades near the buyer zone. So, I think the British Pound can fully decline to the buyer zone, after which the price will turn around and start to move up to the 0.8570 resistance level. For this reason, my target is located at this level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3
⚡️Strifor || GBPUSD-08/02/2024Preferred direction: BUY Comment: Just like for the euro , we maintain the buy-priority for the British pound . Here the transaction has already been moved to breakeven, and scenario №2 is no longer relevant. At the moment, after fixing part of the profit and transferring it to breakeven, one can consider the target at the level of 1.28000 , since there is still potential for growth. The news background this week is less intense, so today the main events are only initial jobless claims. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
3
⚡️Strifor || EURUSD-08/02/2024Preferred direction: BUY Comment: Today, the mood in favor of buying the euro is still relevant. Half the way to the target has already been passed. It should be noted that the current week is not rich in news; today the most important event, surely, is the initial jobless claims . In general, one can count on more or less active movement only during the American session. Regarding the goals, nothing has changed. The area around 1.09000 is where the buyer is heading, and we begin to fix the profit already at 1.08500. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1
⚡️Strifor || GBPUSD-06/02/2024Preferred direction: BUY Comment: The British pound is also expected to begin a recovery. There are also two main scenarios here, and in this case, it is best to consider both options at the same time. There is still a possibility of updating the local minimum at level 1.25279 . However, buying from current ones is also relevant, since the price may fly up after rebounding from the support area of 1.25279-1.25600.  We fix the target for a long trade at approximately the level of 1.26810 .  Also, in the longer term, it is likely that more growth can be expected. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1
⚡️Strifor || USDCHF-26/01/2024Preferred direction: BUY Comment: According to our previous analysis on USDCHF , we are in buy-priority (scenario №2) . There are no changes to make us change our minds. We expect that today, before the weekend, the instrument will pass most of the intended path to the goal, and the best option would be to close the deal before the start of the weekend. We remind you that the target is at the level of 0.87757. Thank you for like and share your views!
Long
by Viktor_strifor_analyst
1