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EURGBP

EURGBP Watch: Strategies Amidst the Correction PhaseGreetings Traders, In today's trading session, our attention is turned towards EURGBP, where we are actively monitoring a potential selling opportunity around the 0.86500 zone. Currently entrenched in a downtrend, EURGBP is navigating a correction phase that brings it closer to the significant 0.86500 support and resistance area. As EURGBP adheres to its downtrend trajectory, traders are observing the unfolding correction, anticipating a strategic entry point near the 0.86500 level. The support and resistance area represents a critical juncture, offering traders an opportune moment to consider a selling position. Vigilance and careful risk management are crucial as traders navigate the intricacies of EURGBP's correction phase. The broader economic context, geopolitical events, and central bank policies can further influence EURGBP's movements. Traders should stay informed about relevant developments to make well-informed decisions in this dynamic trading environment. As always, trade safe and remain adaptable to evolving market conditions. Best regards, Joe.
Short
by JoeChampion
🇪🇺 EURGBP 🇬🇧 - Prepare to fall! Euro is weakening The currency pair is in the bearish trend phase. During the day, the price is consolidating near the support level and is preparing for further decline, as several preconditions point to it: Prerequisites for further decline: 1) Retest of PDL 0.8615 support 2) Strong resistance area. Strong bears in the market 3) EUR looks weaker than GBP on a fundamental basis 4) Price is not ready to rise as consolidation is forming before the breakout of 0.8615
Short
by Gold-Tech
1
EURGBP H4 | Bullish reversal The price could reverse to the buy entry and bounce off to rise to the take profit level. Buy entry is at 0.86177 which is an overlap support level. Stop loss is at 0.85806 which is a level that sits below an overlap support. Take profit is at 0.87002 which is an overlap resistance level, that aligns closely with the 78.6% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1
EURGBP - Price can make little correction and then bounce upHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 Recently price entered to falt, where it tried to rise to top part, but failed and declined to resistance area. Then, British Pound bounced from this area, rose to top part of flat, and then made downward impulse to $0.8570 support level. Thereby price exited from flat, breaking $0.8685 level, and later started to grow in rising channel. In channel, GBP rose to resistance line, but soon bounced and fell to support line, making fake breakout of $0.8685 level. At the moment, price trades near support line and I think that British Pound can make correction again. After this, GBP bounced up from support line of rising channel to $0.8720, thereby breaking resistance level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
2
EURGBP H1 | Bullish breakoutThe price could continue rising and break the buy entry level and continue to rise to the take profit level. Buy entry is at 0.86742 which is a pullback support level. Stop loss is at 0.86512 which is a level that sits below a pullback support. Take profit is at 0.86992 which is a swing-high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
The Euro will weaken against the GBPSummary The European Central Bank (ECB) will likely cut rates before The Bank of England (BOE), meaning potential downside on EURGBP. The Details European interest rate hikes have been successful - Euro Area inflation is around 2%. Mission accomplished. Easing rates is the next step after holding the current rate for a while. Cutting rates will weaken the Euro. European economic figures are poor, which adds conviction to rate cuts in the near future. On the other hand, the BOE will likely keep higher rates for longer. There may even be a final rate hike by the BOE. Inflation is still above 3%. Cutting rates anytime soon could be seen as irresponsible and is not likely. I expect EURGBP to reach weekly range support at 0.8250 in 2024. Price may even break the range support area. Things to Consider If the UK also signals recession, pressure to cut rates will increase. However, inflation should be the primary influence on rate decisions. EURGBP could move higher before it starts declining.
Short
by Samuel_Morton_Trader
EURBGP H4 | Potential bearish breakoutThe price could pullback and breakout of the sell entry and reverse to the take profit level. Sell entry is at 0.86829 which is an overlap support level. Stop loss is at 0.87009 which is a level that sits under an overlap resistance level. Take profit is at 0.86371 which is pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
EURGBP H4 | Bullish breakoutThe price is breaking out of the pullback resistance and could potentially rise to the take profit level. Buy entry is at 0.86825 which is a pullback resistance. Stop loss is at 0.86479 which is a level that sits under a multi-swing low support. Take profit is at 0.87433 which is the overlap resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
British Pound can make one more movement down and then bounce upHello traders, I want share with you my opinion about British Pound. Observing the chart, we can see that the price a few days ago started to trades in the range, where it first declined below the 0.8700 level, which coincided with the seller zone and bottom part of the range, but soon backed up, making a fake breakout. After this, the price rose to the top part of the range, bounced and in a short time EURGBP declined below the 0.8700 level again and even soon exited the range. Then the price fell lower than the support level, which coincided with the buyer zone, and later around up and started to rise inside the upward channel. In the channel, the price rose higher than the 0.8580 level and a few moments later reached the resistance line of the channel, which coincided with the seller zone. But not a long time ago, the British Pound rolled down and now it continues to fall. So, possibly price can decline a little more and then rebound up to the resistance level, which coincides with the resistance line of the channel. For this case, I set my target at this level - 0.8700. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7 Dimension analysis for EURGBP 🕛 TOPDOWN - Navigating a Sideways Consolidation Overview: This pair has been trading in a sideways range between 0.9501 and 0.8260 since 2017, establishing a considerable consolidation area. The monthly chart reflects a vast consolidation region, making it one of the most consolidated pairs in forex, lacking a clear direction. On the weekly chart, after forming a valid low, the pair initiates an upward move, seemingly with a short post-breakout buildup. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective, nearing a valid Point of Interest (POI). 🟢 Inducement: Completed, forming a valid high, with prices approaching a potential buy area. Anticipating the 1st pullback, which might be deep at extreme levels. Internal structure appears bearish with an unmitigated overbought (OB) scenario. 🟢 Support/Resistance Areas: Support, Demand, Accumulation areas are vital, marked with trendlines. Identifying potential buy entries in these zones. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal Double bottom formation indicative of a potential reversal. 🟢 CANDLE PATTERNS Key Observations: The last candle, a significant bear candle, indicates profit booking by climax players. Momentum candles reflect strict bearish momentum, but bear in mind that substantial bear candles near support might not have significant implications. Climax players' activity in the area warrants careful observation. 3️⃣ Volume: High volumes at both the beginning and end, signaling bullish volume. There's a high chance of price reversal or support emergence from these levels. 4️⃣ Momentum RSI: 🟢 Momentum State: In a sideways zone. 🟢 Divergence: Two consecutive bearish divergences indicate active bears, although a bullish divergence is currently forming. 5️⃣ Volatility Bollinger Bands: 🟢 Bands are below the middle band, suggesting a bearish trend. However, a punch from the upside signals strong bearish pressure. 6️⃣ Strength - ROC Values: EUR is stronger than the bears. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bullish ☑️ Current Move: Corrective ✔ Support Base: Previous support area ☑️ Candles Behavior: Climax player activity, record session count with an extreme bearish candle unable to break support. ☑️ Trend Line Breakout: Not yet observed. ☑️ Final Comments: Buy at the support. 💡 Decision: Buy once the price reaches the support area. 🚀 Entry: 0.8670 ✋ Stop Loss: 0.8647 🎯 Take Profit: 0.8831 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 30 days SUMMARY: The analysis focuses on a bullish scenario, given the corrective move and potential support areas. However, cautious optimism is advised, considering bearish momentum and climactic activity. The strategy revolves around waiting for the price to reach a key support level for a buy entry, aligning with the broader bullish outlook.
Long
by Optimum369
EURGBP H4 | Falling to supportEUR/GBP is falling towards an overlap support and could potentially bounce off this level to rise higher towards our take profit target. Entry: 0.86547 Why we like it: There is an overlap support level Stop Loss: 0.85980 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement level Take Profit: 0.87199 Why we like it: There is a pullback resistance that aligns with the 78.6% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
EURGBP H4 | Breaking out of support levelPrice is in a downtrend, reaching our sell entry. It could breakout of the sell entry and reverse to the take profit level. Sell entry is at 0.86587 which is an overlap support level. Stop loss is at 0.86837 which is a level that sits above an overlap resistance and the 61.8% Fibonacci retracement level. Take profit is at 0.86017 which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM