Eurgbpbearish
EURGBP SHORT INTRA-DAY AND SWINGEURGBP is currently trading below $0.83678,a signnificant level.
Comparing Weak Vs Strong currencies this past week (end 2/14), GBP shored much much much more strength whereas EUR traded as the weakest of all currencies-- meaning a SELL bias for the pair.
Monthly chart analysis has the pair looking to test Supports for bounce.
A good technical approach on this pair provides awesome Short opportunity to Support with potential continuation to downside or counter-trend to upside targets depending on price action and/or currency strengths.
Momentarilly, Daily and 4Hr analysis should follow.
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EURGBP SHORTI am currently in this trade but I still see some GBP weakness across the board. I think we will see a retracement back up-to the 78.6% fib level (purple box area) 0.85150 area. If we do see a retracement to this level wait for 4 hour candle closure forming a doji or spinning top as an extra confluence to take a short position.
Remember to take partial profits at 0% -20% and finally the -61.8%.
235 PIP gain 8/1 RR
LIKE AND FOLLOW :))))
EURGBP SHORT 4H SETUP
EURGBP is showing a downtrend lately on daily timeframe, we are looking of a possible to enter a short position if our trendline does not break, we also saw
some rejections on our resistance (keylevel) at 0.84728 which confirms us for a possible sell till to our next support at 0.83373
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
Looking really good. I believe that EURGBP is going to start climbing to the upside. First I would like to see a nice pull back and a clean rejection off support giving us a good entry. Watching very closely. Definitely at the top of our watchlist.
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
Bit a push to the upside, looking really good. I am not going to rush into anything. Like gold and oil you really need to respect pound pairs as they can move very violently. Its still early in the week so we need to be patient. I would like to see a nice pull back down giving us a good opportunity for a clean entry! Definitely on the watch list. Keeping a close eye on this
EURGBP SWING SELLAs mentioned in the friday's video watchlist price restested perfectly the descedign weekly TL that lines up with previous structure retest,daily support leavign a big weekly shadow behind failing to break above the 0.8600 area so right now im shorting this pair after a 3rd wave atleast to the 0.8400 area
EurGbp to retest 0.84 figure?From the middle of August, EurGbp is in a clear downtrend. The pair reached a low at 0.83 and corrected upwards.
The correction reached 0.86, a previous consolidation zone.
As long as 0.86 zone holds we consider the downtrend still intact and a retest of 0.84 support is probable.
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
As mentioned keep in mind that we have pound news today. This pair is definitely looking good. As I said in the last video I would like to see EG push up a bit and give us a nice clean rejection off resistance then we could look to take a trade.
EURGBP - LONGReason
1.) Price reversal at 0.83 tells me that some big volume is buying at this price.
2/) SMA20 starts showing some strength in an up trend.
Note; Long term is still in a downtrend, thus trading should be cautiously monitor or SL.
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
TRADE with CARE !!!
EURGBP Market Outlook | Daily Forex Market BreakdownEURGBP
Looking at Eurgbp now, I say this a lot but with gbp pairs you have to be very cautious as they are heavily influenced by fundamentals. EG rejected and pushed off 0.84 nicely, looking like we are slowing down. EG looks like it could be stuck in consolidation. Waiting to see how we react at current levels of resistance. I feel we could roll over to retest 0.84 once more.