Will EurGbp break resistance?After the recent low in 0.85 zone, EurGbp reversed aggressively and returned to 0.87 previous support (now resistance)
A higher low is in place at 0.86, and this gives my confidence in continuation and a break of this resistance.
In my opinion, dips should be bought and bulls can target 0.89 zone
Eurgbpforecast
EURGBP ForecastEURGBP Forecast
- keep an eye on EURGBP this week, it's going to fall anytime soon
- first level to break 0.86000
- if I'm correct due to the time factor is has, EURGBP will have to go down fast towards level 0.84700
- keep looking for potential sell setup if given, I will keep track on this pair closely
Note:
Dont simply jump into it, unless confirmation given
EURGBP preparing for a rallyHi there,
EURGBP is close to a bottom preparing a rally,
My next target for bottom is arround 0.84000/0.83500
Completing a retracement of almost 99% from the previous upside, and making an ABC correction from the main trend
we are now on wave number 4, preparing for last move up on Monthly timeframe
Good luck
EUR/GBP SELL SIGNALHey tradomaniacs,
welcome to another free trading-setup.
EUR/GBP: Daytrade-Execution
Market-Sell-Order: 0.85330
Stop-Loss: 0.85700
Point of Risk-Reduction: 0.85070
Take-Profit: 0.84100
Stop-Loss: 34 pips
Risk: 0,5%-1%
Risk-Reward: 3,60
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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EUR/GBP forecastFX:EURGBP
A previous analysis of this chart is linked below
Alternative analysis for EUR/GBP
A parallel channel has been forming for an extended
period of time on the 4hr, with price bouncing along
the lower and higher edges of the channel, and
breaking major support lines along the way downwards
and indicating a strong moving downwards trend.
EURGBP managed to break upward
Yesterday the pair was trading finding resistance towards the supply zone, and I was short because of the rejection and after forming a double top pattern. However, the bearish closing candle expected as confirmation never happened. Instead, the price action managed to record a new HH invalidating the initial bias.
The price has broken the supply zone, and we could expect an upward continuation movement after the re-test. Potential setup R:R | 1:4
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