EURGBP Pair : EURGBP ( Euro / British Pound )
Description :
BEARISH CHANNEL as an Corrective Pattern in Long Time Frame
Completed Impulse Correction Impulse
RISING WEDGE as an Correction in Short Time Frame and Rejection from Lower Trend Line
BREAK OF STRUCTURE and Completed the Retracement at Demand Zone
Eurgbp!
EURGBP Sunday Analysis - Support Resistance TradingAs EURGBP is following its downtrend, price retraced from the stronm 1H level and slided into 15m channel. The structure (marked with yellow box) has been broken and restested as usual. Next bearish candles gives confidence on shorting the pair back to the 15m channel bottom as first target and 1h strong support as final target.
HelenP. I GBP can exit from wedge and try break resistance levelHi folks today I'm prepared for you British Pound analytics. Some time ago price traded near the resistance zone, which coincided with resistance 1, but later it fell to this level, reached the trend line, and at once rebounded and made a strong impulse up to resistance 2. In a short time price broke this level, which coincided with one more resistance zone and rose higher. But soon, GBP turned around and started to decline back to resistance 2. Later price declined below this level, thereby breaking it again, and then continued to decline to the 0.8550-0.8565 resistance zone, and soon GBP broke resistance 1 and declined to the trend line, forming a wedge pattern. After the price traded near this line it rebounded from the trend line to the resistance line of the wedge, where the price continues to trades near. For my mind, I expect that the British Pound will make a little correction, after which the price turn around and start to rise to a resistance level. When the price reaches this level, GBP can try to break it and then make a retest, after which the price will continue to move up. So, for this reason, I set two targets, the first target at the 0.8550 resistance level, and the second - at the 0.8600 level. If you like my analytics you may support me with your like/comment ❤️
BoE's Huw Pill Remarks: Implications for GBP Strength in EURGBP Greeting Traders!
In the upcoming week, our focus shifts to EURGBP for a potential selling opportunity around the 0.85500 zone. The pair has been navigating a downtrend and is currently undergoing a correction phase as it approaches the trend at the 0.85500 support and resistance area.
Turning to the fundamental landscape, recent statements from the Bank of England (BoE) hint at a possible shift in interest rate policy. Chief economist Huw Pill's remarks diverge from Governor Andrew Bailey's stance, suggesting a potential disagreement within the central bank regarding future rate movements. Pill's cautionary tone, particularly regarding external factors such as developments in the Middle East, hints at a more nuanced approach to rate decisions. He emphasizes the need for flexibility in responding to geopolitical events that could impact the economic landscape, indicating that such developments could influence the speed or direction of future rate adjustments.
⚡️Strifor || GBPUSD-01/02/2024Preferred direction: BUY
Comment: Similar to the situation with EURUSD , for the British currency we are also starting to consider a medium-term purchase. Yes, the US dollar has begun to strengthen as we expected, but most likely the growth of the American currency will not be as impressive as we expected. One of the options would be to fix part of the volume and move the transaction to breakeven. Our proposed long trade is of a medium-term nature, so a step by step set of positions will be used here.
As always, we highlight two scenarios, but in fact they can be combined into one, which involves a step by step accumulation of a long position.
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EUR/GBP BEARS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
Bearish trend on EUR/GBP, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 0.851.
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⚡️Strifor || GBPUSD-Fed MeetingPreferred direction : SELL
Comment: Just as in the case of the euro, the British pound is also under the target of sales, however, it should be noted that the potential for a fall here is lower than that of the former. We have previously written about selling using this instrument and continue to adhere to this. Today marks the start of a rather busy period of the week, and the main focus of attention is, of course, the Fed and its rhetoric about upcoming policy. Just like for the euro, we highlight two scenarios. The only difference between them is the depth of the supposed false upward movement. The target is common and is at the level of 1.25000 .
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EURGBP H4 | Overhead resistanceEUR/GBP is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.85450 which is a pullback resistance.
Stop loss is at 0.85800 which is a level that sits above the 23.6% Fibonacci retracement level and a pullback resistance.
Take profit is at 0.85049 which is a swing-low support.
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EURGBP Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance )
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Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
EURGBP Massive Long! BUY!
My dear friends,
EURGBP looks like it will make a good move, and here are the details:
The market is trading on 0.8524 pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 0.8567
Recommended Stop Loss - 1.8501
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
EURGBP: Technicals and ECB Policy ShiftIn today's trading session, our focus is on EURGBP, where we are eyeing a selling opportunity around the 0.85800 zone. Technically, EURGBP is trading in a downtrend and currently navigating a correction phase towards the 0.85800 support and resistance area. Now, delving into the fundamental layer, we are inclined towards a bearish stance on the Euro due to potential rate cuts from the European Central Bank (ECB) in April. The recent policy stance of the ECB indicates a shift towards a more accommodative monetary policy stance. President Lagarde's avoidance of calendar guidance in favor of data dependence further underscores this shift.
The ECB's acknowledgment that data have been trending positively, albeit faster than expected, suggests a willingness to act preemptively if economic conditions warrant it. The latest PMI data, while showing signs of improvement in the manufacturing sector, also hint at supply disruptions affecting delivery times, which could temper the overall economic recovery. Additionally, disappointing forward-looking indicators like the fo climate index and subdued inflation expectations from ECB surveys contribute to a cautious outlook on the Euro's prospects.
As such, the constraints on the ECB are easing, paving the way for potential monetary policy adjustments in the coming months, including the possibility of rate cuts. This shift in policy stance and the accompanying real rate differentials could weigh on the Euro against other currencies, including the British Pound. In light of these factors, maintaining a bearish outlook on the Euro seems prudent, with EURGBP positioned for potential downside movement in the near term
⚡️Strifor || AUDUSD-30/01/2024Preferred direction: SELL
Comment: Another one of the most promising deals in favor of the US dollar. Here we will also patiently continue to wait for the US dollar to strengthen. The main obstacle for sellers is now located at the level of 0.65500. Having overcome this obstacle, the instrument is likely to fall to 0.65010 . This is where our sales target locates.
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⚡️Strifor || GBPUSD-30/01/2024Preferred direction: SELL
Comment: Our deal on the pound has been going on for a long time. However, this does not in any way affect the sales we expect. Most likely, this expected fall is being delayed due to insufficient accumulation of the buyer, which is the main resource for the fall. The main target of the fall is located at the level of 1.25000 . But we are also considering an intermediate target at 1.26000.
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⚡️Strifor || EURUSD-30/01/2024Preferred direction: SELL
Comment: The currency pair continues to be under selling pressure. A number of important publications and reports are expected this week, and most likely the euro will fall to around 1.07500 by mid-week. Therefore, the previous plan is in force and we expect its further development. Already in the area of the indicated target, one may consider medium-term long, but it is another story.
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EUR-GBP Will Go Down! Sell!
Hello,Traders!
EUR-GBP is trading in
A downtrend and the
Pair broke the key
Horizontal level of 0.8556
And the pair retested
The broken level and
Is going down again now
So I think it will keep falling down
Sell!
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