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Eurgbpforecast

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
EURGBP 2017 Trade Set upEURGBP Fundamental Outlook EURGBP could be one currency to keep an eye next year. For all the speculation that Brexit will hurt the UK, speculators could be proven wrong big time. There are a lot of worries in the Eurozone, with French/German/Dutch elections. This could potentially hurt the euro, while the UK seems to have gotten an ally from Trump. From a central bank perspective, inflation is likely to increase in the UK, thus prompting for rate hikes from the BoE, while the ECB is set to keep its easing bias for most of next year. EURGBP Technical Outlook We have two major potential head and shoulders pattern that is taking shape. The first (minor) H&S is likely to form the right shoulder near 0.88. Following which, the downside target is to 0.76 on a break below 0.83. This forms the potential evolving major neckline support. A bounce from here will see the right shoulder form near 0.83 (which will turn to resistance following the minor H&S breakout). The right shoulder of the major H&S near 0.83 will potentially see a move to 0.76 with a break down here sending EURGBP down to 0.62 eventually. Timeframe for this could be the next 12 - 18 months. So EURGBP trend is likely to be downside, making it a sell the rallies.
by justatrader