Eurgbpbullish
Buy EURGBP Heading Towards 1.618 Extension (DAILY)Price bounce from mid trading range and channel zone heading towards 1.618 extension of lowest low and following higher high.
1.618 extension is also upper resistance.
1.272 extension turned into support from previous resistance
You can take the buy and set your target to that area or wait for price to reach that point and watch for potential sell reversal set-up.
Higher probability of the big boys pushing price to that area for that exact reason.
Negative correlation with EURUSD as it heads down - link to related EURUSD idea below.
Risk/Reward 1:1.5
EURGBP right on major resistance, potential drop!EURGBP is now testing major resistance at 0.8911 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) and a strong drop could occur from this level to push price down to 0.8747 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
EURGBP is reacting nicely off major resistance,bearish potentialEURGBP has reacted nicely off major resistance at 0.8911 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could continue from this level to push price down towards 0.8747 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 95% where it reacted nicely off. Huge downside potential for a further drop.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
EURGBP testing major resistance, potential reversal!EURGBP is now testing major resistance at 0.8911 (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and a strong reaction could occur at this level to push price down to at least 0.8747 support (Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance at 95% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.