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7 Dimension Sell Analysis for EurGBPCore Analysis Method: Smart Money Concepts 😇7 Dimension Analysis Time Frame: H1/M5 1: Swing Structure: Bearish with proper BOS after taking inducement and marking valid low. The price completed its corrective swing move with 4 pullbacks and a proper internal bullish structure, mitigating the extreme POI OB and sweeping swing liquidity in the Premier zone. It also swept external swing liquidity, making this entry more interesting with the Whale scoop entry setup. Resistance: Supply area acts strong with a false breakout. Post-break buildup failed strongly, indicating that the price will go further down to form another low. 2: Pattern 🟢 CHART PATTERNS: Reversal: Rounding bearish patterns and consolidation rectangle bear side breakout. Shakeout reversal also at the same point. 🟢 CANDLE PATTERNS: Multiple long wick candles at the POI area, then breakout the range with a momentum strict engulfing pattern. 3: Volume 🟢 Shows very good volume at the resistance level, but this volume is unable to break the resistance, so we consider it an execution volume at the point. 4: Momentum RSI 🟢 Since the start of July, momentum has been in the bearish zone with multiple bearish range shifts and divergence, everything loudly indicating this is still in the bearish phase. 5: Volatility Bollinger Bands 🟢 Expansion has started just with momentum. Bearish headfake also indicates bearish volatility in this pair for now. 6: Strength: Showing weakness. 7: Sentiment: Everything is in bearish favor. ✔️ Entry Time Frame: M5 ✅ Entry TF Structure: Bearish ☑️ Trend line breakout: Yes 💡 Decision: Sell 🚀 Entry: 0.8441 ✋ Stop Loss: 0.8451 🎯 Take Profit: 0.8400 😊 Risk to Reward Ratio: 5RR 🕛 Expected Duration: 3 Days SUMMARY: Analysis supports a strong sell position based on the Smart Money Concepts methodology, with expected bearish momentum and high potential reward.
Short
by Optimum369
Market Analysis: EUR/GBP Gains StrengthMarket Analysis: EUR/GBP Gains Strength EUR/GBP is rising and might climb above the 0.8620 resistance. Important Takeaways for EUR/GBP Analysis Today - EUR/GBP is gaining pace and trading above the 0.8500 zone. - There is a short-term contracting triangle forming with support near 0.8570 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a decent increase from the 0.8415 zone. The Euro traded above the 0.8465 resistance level to enter a positive zone against the British Pound. The pair settled above the 50-hour simple moving average and 0.8515. The pair traded as high as 0.8618 before there was a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the 0.8416 swing low to the 0.8618 high. However, the pair is stable above 0.8550. There is also a short-term contracting triangle forming with support near 0.8570. The next major support is near the 50% Fib retracement level of the upward move from the 0.8416 swing low to the 0.8618 high at 0.8515. A downside break below the 0.8515 support might call for more downsides. In the stated case, the pair could drop toward the 0.8465 support level. Any more losses might call for an extended drop toward the 0.8415 pivot zone. The EUR/GBP chart suggests that the pair is facing resistance near the 0.8620 zone. A close above the 0.8620 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8650. Any more gains might send the pair toward the 0.8685 level. 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
2
EUR/GBP Finds Support at 0.8400: Potential for a Bullish SetupAs anticipated, the EUR/GBP currency pair has found support around the 0.8400 level, aligning with our previous forecasts. This area has proven to be a strong demand zone, where buyers seem poised to initiate a retracement, potentially driving the price higher. Currently, the EUR/GBP pair remains within a consolidation phase. However, market sentiment indicates that buyers are preparing to step in, suggesting a possible upward movement. The current market conditions also coincide with a seasonal trend, historically known to favor an increase in EUR/GBP value over the coming weeks. Our comprehensive analysis of supply and demand dynamics supports the outlook for a bullish retracement. We are particularly focused on identifying long position opportunities, as the demand area around 0.8400 demonstrates significant support for the pair. Traders should watch for confirming signals of a breakout from the consolidation phase, which could mark the beginning of a sustained upward trend. In conclusion, the EUR/GBP is showing promising signs of a rebound from its current support level. With the convergence of technical analysis and seasonal factors, we are optimistic about the potential for a bullish retracement. Monitoring the pair closely for entry points in long positions could yield favorable trading opportunities in the near future. ✅ Please share your thoughts about EUR/GBP in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
EURGBP longhello everyone, price has been bearish and reached the main daily weekly support level... looking in 4hr tf, the price made new high and new high low... price is trending to bullish direction... price is not showing a strong bearish move, therefore price is liquidating and may become more bullish.. price may pull back to correction point 1 or 2.. however price is getting closer to 200sma... once price crosses 200sma price will remain bullish... at this point there is no confirmation as price is still ranging..
Long
by baigxy
Double Bottom w/ Break of Confirmation!! - EGHere I have EUR/GBP on the Daily chart! The Lows @ .83972 & .83827 seem to have found enough Support in this Zone since its last visit back in the summer of 2022! After BOE decided to cut their Interest Rates to 5% on Thursday, we see the end of the week gave us quite a Bullish close above the Lower High @ .8490 CONFIRMING the Double Bottom Reversal Pattern!! With the: -Divergence of Price vs RSI @ Level of Support -Break of Structure from LL to HH -and Price on RSI Above 50 *All that's left is to wait for Price to retrace back down to the .8490 area where the Break of Confirmation of Pattern happened for some potential Buy Opportunities!!
Long
by Novi_Fibonacci
1