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Eurgbpforecast

Game Plan #forexEUR/GBP has been in a range for months now but is starting to show some weakness on a near term basis. If we can close below the weekly range low the 0.8932 area and remain below the downtrend line then the next stop should be the lows from November 0.8850. Given all the headline news about COVID and the UK it would appear to be negative for the currency but price is telling a different story for now. We have also seen a pick in the rate of change to the downside which may also be a sign of more selling to come. If we clear the downtrend line to the upside then the short play would be invalidated.
Short
by IngenuityTrading
2
EUR/GBP could get interesting to BUY!Hey tradomaniacs, EUR/GBP could get interesting if we see momentum back into the Trendchannel and above Key-Support👉 Since EUR/GBP is not trendy in the bigger timeframe and more in a volatile consolidation we can expect EUR/GBP to move up again of we don`t see a violation of the key-support-zone. Market is generally very quiet today, so be carefully with volatility and shake-outs. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me.
Long
by Trading2ez
2
EURGBP | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair enjoyed 135pips run in our direction before the rally. Now - Since late December 2020, the EUR/GBP has been rangebound between roughly the GBP0.91150 - 0.89500 level and emphatically respecting a channel. Despite most quarters supporting the appreciation of the Euro considering the unfolding of the pandemic after which Covid-19 concerns in the UK led the country into a stricter lockdown last week... I am looking the opposite with a possible risk of further decline as price breaks down key level @ GBP0.90200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. The inability of price to break above GBP0.91000 level since Dec 2020 insinuates that buyers might have lost the momentum as we witness a Breakdown of GBP0.90200 last week. ii. Since Breakdown of Key level, a rejection of this level will be my lead in the coming week. iii. A further Breakdown of Demand zone @ GBP0.89000 with significant candle shall increase my confidence in holding the sell position. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
Brexit, the [upcoming] Euro crisis and the simple mathMuch like during WWI when Germany was "Shackled to a corpse" in the form of it's alliance with the Hapsburg Empire, so was Britain until recently, through it's union with the EU. Now, although Britain is finally free, chances are that this came a day late and a dollar short. Let's be real! - The European Union is nothing more than a rotting corps, not unlike every single large, closely nit trans-national alliance throughout the entire history of mankind. This is an inescapable fact of History. This is not only a historical fact but just as importantly, there are countless (computer, mathematical, socio-economic) simulations and models which bear this out, to a " T ". - With unanimous, categorical results. Brexit is now concluded and the question remains; "What will that mean for Britain?". - Or rather, what are the prospects of the Pound vs. the Euro. The title chart being the Quarterly EURGBP. Well, as it stands at the moment; 1) Not even a pandemic combined with the "dreadful" Brexit could push the Euro above 0.95 British Pounds; 2) Corollary to the above - and perhaps even more strikingly -, all the while the GBP remains the worst performing G10 currency by a wide margin; 3) While Europe was having it's "Maastricht Moment", the BoE decided to inflate it's own balance sheet to the tune of an eye-popping 120% of GDP. So, if these combined factors still refused to sink the Pound (and Britain with it, into the North-Sea) versus the Euro than what exactly would it take??... E.g.; This is not so because the Pound is so great, stable and a resilient currency despite all those factors but could it be that this is because the European Union is "rotting corps" and as such it is doomed, in the not too distant future. Don't believe it? - No problem. Take a look at the title chart and decide whether to "... believe your lying eyes".
by Nemo_Confidat
4