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Eurgbpforecast

EURGBP Update : Hitting the Midterm TargetsThe pound is destroying all targets ahead. EURGBP, GBPJPY, GBPAUD, GBPNZD, GBPCHF even GBPUSD. We have reached the main targets. But the game is just starting. The important midterm support has already been broken on EURGBP. 0.87300 is the Fibonacci 61.80% of the daily chart and this was the strongest support after 0.87500. Selling pressure will continue as long as the price remains below 0.87500.On the smaller chart timeframe, 0.86700 is the next target of EURGBP. And Fibonacci 78.60% at 0.86000 will be the next target. The cup with handle formation would be invalidated if the price makes daily closings above 0.87500. Otherwise, 0.86000 is the first target. So pullbacks towards 0.87500 can be used as selling opportunities. Only the negative news on Brexit can cause closings above 0.87500.
Short
by eacemi
EURGBP - Almost at Triangle's ApexAs we can see EURGBP is moving towards the apex of this descending triangle. Those with a Bullish bias seem to be holding strong at the 0.87500 key support level, but they seem to be consistently pushed back by the descending trendline of the triangle pattern. Eventually the triangle will no longer be able to contain price, and we will look for 1 of 3 scenarios: 1) Bullish break out of the triangle. If the breakout is strong enough this could put 0.93000 in play as an extended target. 2) Continued choppy & sideways movement. This would be the least desirable outcome as we will have to wait to see if a new range develops clear high and low points. My personal bias is that if we do get a choppy break of the triangle pattern the range of pips in the short-term will not make this pair worth trading. 3) In my analysis this is the most likely outcome: we will see a breakdown of the current triangle pattern and fall back into the previous corrective/balancing structure that began to form back in December 2016. This range can definitely be traded and would most likely be bounded between 0.87500 on the high side (the previous support line of the triangle, now should function as resistance) and 0.83500 on the low side (a previously key area of support going back to July of 2016). This corrective structure is indicated by the blue rectangle.
by ImreSG
EURGBP H4 Potential SetupThis morning we saw a close of a Bullish Engulfing which was followed by a slight rejection just above the monthly resistance level of 0.89430 . The EUR has continued this fall this evening however it being a Friday can produce unpredictable signals, we may see that the Bullish Engulfing does prove to be a turning point of the short downtrend this afternoon and see it climb to the upside of around 0.8990 mark. Here it would meet the daily falling trendline which is where I will be watching, will it reject or break through? I will need this confirmation either way before I jump in as the trendline is not as strong as I would like to see. Monday we have a speech from Draghi so we could see some early week movement on this pair, depending on dovish or hawkish it may take this to the D1 trendline but we shall see.... GBP news is pretty quite until Thursday so I will be looking at making a decision early part of the week on where this pair is going to head, then getting out to re-assess before a very busy economics day for both currencies on Thursday. We have the RSI at a nice level but the Stoch at a turning point, so will be patient with this and see where it begins to head. Appreciate everyone's feedback and thoughts so don't be shy, I need to be told right or wrong either way!
by JordanWillson
1
EURGBP : CHERRY WINEHi traders, (This trade was suggested to students yesterday 2017-10-19) This is by far the most simplest technical trade of the recent weeks... This means that there isn't much to say that you cannot see on this chart. MACD FAKE OUT RSI MIXED SIGNAL ORDER BLOCK EUR FAKE RALLY Here's what I'm suggesting : EURGBP SHORT: ENTRY : 0.89898 SL : 0.90674 TP : 0.87799 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Short
by ScottMescudiForex
EURGBP Fails to Retake 0.8980From here I favor a move back toward the September low at 0.8744. A break below that would target the 0.8600 handle and perhaps even the current 2017 lows near 0.8370. Keep in mind that all of this is unfolding following the break of channel support on September 12. That was a significant breakdown in the sense that it ended the uptrend which began in May. The 0.8880/90 area could also attract a few bids on the way down. In fact, I’m seeing it happen as I write this post. But this could also offer an opportunity to get short if you missed an entry during yesterday’s selloff. Of course, we’ll have to see how price reacts to the 0.8880/90 area to know for sure. And since today is Friday, it might be a good idea to wait until Monday to make a decision. That way you aren’t exposing your account to the possibility of a weekend gap. As always, the decision is yours. My preference is to continue to watch for selling opportunities for an eventual retest of last month’s low at 0.8744. And because of the September 12 break of channel support, my bias will remain tilted toward the current 2017 lows near 0.8370. It would take a daily close above 0.8980 to alter my bias. Source: bit.ly
Short
by Daily-Price-Action
Eurgbp D1 Trade Setup wait for breakout suggests more upsideThe EURGBP posted a long white candle and the daily candle suggests more upside. Intraday Update: The EURGBP just hit the 38% retracement and near the 161% extension. As long as .8972 holds, this could be a good reversal level for the pair to move back to .8900. End of Week Analysis: The EURGBP has rallied back to a confluence of fib levels. The 38% retrace, the 161% extension and is testing the underside of the trend line. As long as we stay below .9000 on a closing bases, we probably will move lower. Brexit priced into GBP but not the Euro? UK referendum & elections brought weakness to the Pound, however, its ~15% depreciation should put the brakes on easing and some stimulus may be removed as inflation & general economic data improve. Join Our Telegram Group :https://goo.gl/Gs5NtH
Long
by FxSingalsteam
EURGBP: Keep These Two Resistance Levels on Your RadarIn the near term, the 0.8925 area will likely attract an influx of offers. Any bearish price action from here could provide an attractive short setup. However, I have a sneaking suspicion that bulls want to take prices to 0.8980. This area served as resistance back in late July and subsequently attracted bids on the 12th and 13th of September. I’m going to hold off to see what kind of price action we get at 0.8925. A daily close (5 pm EST) above it would open the door to the next resistance level at 0.8980. This too is an area that could produce a favorable selling opportunity. As long as 0.8980 holds as resistance on a daily closing basis, I will maintain the idea that a major reversal is likely. Given the location of the weekly swing highs and lows since 2015 (see chart above), it appears EURGBP bulls may be ready to capitulate. Key support from here comes in at 0.8744 followed by 0.8600. The latter will be my target should we get a favorable short setup in the coming days. Source: bit.ly
by Daily-Price-Action
EURGBP - Long on Hawkish DraghiWe have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a long trade on the EURGBP should we see and hear hawkish sentiment from Draghi. The Euro has been the stronger of the two currencies over the past week, and over the past month, and is currently sitting at resistance. We would prefer to see this pair fall into a level of support before the news, giving us a better entry. We would also look to take a long on a breakout condition with a small position, adding to it as the bullish move is confirmed.
Long
by Mase_00_7
8
Patience is virtue with this annoying pairAfter forming a fakey bar on the daily time frame, this Forex pair took me out of my trade just to have another price rejection in which I did re-enter again a long trade. For four trading days, this pair has been going on sideways which was slightly tempting me to close the trade at Breakeven,.. not closing it was a good decision. Plus I also noticed the inside bar formation on weekly time frame. This pair has been trying hard to push the price higher and higher.
Long
by bearvsbullmarket