EURGBP BULLISH OUTLOOKEUR is gaining in value due to the expectation that ECB will raise interest rates, something that had not happened in more than a decade.
Against GBP the price broke the resistance of the triangle pattern on the 4H graph forming a bullish outlook, which, if gets confirmed, might see the price of the pair testing 0.87 On the other hand, if the bullish scenario does not come to fruition, the price will most likely test the support of the triangle at 0.8568
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Eurgbplong
EURGBP | FINAL leg up before DOOM??Market structure is in clear uptrend since we constantly have higher highs and lower lows. EW counting suggests Zigzag (ZZ) pattern is about to be completed with one more leg up. Expect them to end around 0.885-0.89 where 1.0 fibo level lies, then we will look for short entry later.
EURGBP: Head & Shoulders Trap 🚨Don't trade the head and shoulders pattern the retail way, trade it the smart money way.
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If price is approaching the neckline to breakout, don't join with the retail sellers, wait for manipulation to join at the appropriate order block or imbalance.
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When price finally breaks out and trappers huge amounts of sellers, look to the left to identify an area of demand to buy from.
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If you locate the correct demand, you can buy into seller stop losses and profit both ways.
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This is a great example of manipulation 👁
I will be joining buyers at the next demand.
EUR/GBP bouncing off daily trendline with a LTF patternHey traders, nice setup is presenting itself on FX:EURGBP .
As you can see, on Friday we got a bounce off a trendline on the daily chart.
And on the hourly chart, we can see an ascending triangle with a nice role reversal level.
I'm looking to enter on a hard retest. Fist profit target being the 0.863 local high and main target the recent swing high at 0.874.
EURGBP potential longBased on my analysis we can see that from a daily perspective we have tested the 0.786 fibonacci level. Should the price action in the coming days break above the blue resistance zone which the market has been stronglyattracted to, we could potentially see a break to the upside. From a weekly perspective we have created a candle with a very long wick on the top which the market tends to fill. So if we get a weekly close with such a candle shape we can expect next week to be potentially bullish. However, if the market fails to break this resistance zone, my setup will prove invalid. Thank you for viewing. Please Comment your thoughts on this below.
EURGBP: Just continue buying dips!EURGBP
Intraday - We look to Buy at 0.8485 (stop at 0.8445)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The hourly chart technicals suggests further downside before the uptrend returns. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 0.8600 and 0.8710
Resistance: 0.8600 / 0.8710 / 0.8845
Support: 0.8505 / 0.8400 / 0.8295
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EURGBP - Elliott Wave forecast45 angle describes the corrective nature of the pattern.EURGBP has started forming impulsive wave C's sub-wave 3.
It has broken down the correction channel of wave B.
If EURGBP breaks down low of wave X at 0.84819 , then the price will complete its impulse wave C. It is also a support level of 200 EMA. Or it will start marching upward.
Targets: 0.84500 - 0.84421 - 0.84340 and more.
Thank you!
@Money_Dictators
June Week 2: EURGBP Long-term trend signal!Hi friends, I hope y'all had a fantastic weekend ;)
Today, we have possible long-term bullish rally on this baby. I kind of doubt the trade but looking at how the correlating pairs that have GBP as a base currency behaved (by bearish dropping in the previous weeks) instilled faith in planning to take this trade with you guys. Before we do that, lets take a look at how the bulls and bears might behave in triggering and dis-confirming this trade.
Bulls: -If the price bullish breaks and retests the Weekly Neckline 2/ 4th Weekly Key Lvl and 200 m.a (that's visible on my MT4 chart), that will
trigger our trade signal that I call a Double Bottom A-E.2 signal, and the price will rally for the patterns L1, L2, L3 together for the short-
term m.a's trend that will probably end on the last take profit point.
Bears: -If the price bullish bounces off the Weekly Neckline 2/4th Weekly Key Lvl and 200 m.a with a bearish reversal candle pattern close,
before or after taking the trading, that will tell us that the price isn't ready to rally to the last take profit point, and instead it will signal
a drop to our stop loss key level.
That's it for today. I hope you found value in this. If you have a different perspective, feel free to share it in the comments section, I'd love to know your thoughts on this pair!
Stay Blessed,
Doji-2k1
Jamie Gun2Head - Buying EURGBPTrade Idea: Buying EURGBP
Reasoning: Confluence of fib, previous resistance, trend line support
Entry Level: 0.85860
Take Profit Level: 0.85860
Stop Loss: 0.84820
Risk/Reward: 4.47R
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