EurGbp approaching strong supportDecember has been a very good month for Gbp, with the currency gaining in almost all pairs and in EurGbp's case gaining around 250 pips.
At this moment the pair is approaching very strong support and we can have at least a correction from that point
I'm looking to buy this pair and with a target of around 0.8450
A break of support would negate this scenario
Eurgbplong
EURGBP - LONG RALLY COMINGMy analysis predicts a long rally coming up for EG - up to the 0.85 mark to be precise. This one will chop sideways a little to drink up the liquidity before bulls make a run home. I will be waiting for PA to create new demand zones before entering my 2 or even 3:1 trade here.
EURGBP - BuyIts look like the EURGBP has found its bottom after bouncing from the lower descending trendline and will most probably will move in upward direction from here and likely to test the upper descending trendline. One can buy from here for the target of 0.84566, 0.84839, 0.85117 and 0.85503 with the stoploss of 0.83682.
EURGBP: Long Shot🏌️♂️This pair is difficult but if we open our eyes and understand what price has done, we can assume a reversal soon.
Now that the low has been wiped and liquidity has been taken from there, the price may now want to target the right shoulder liquidity.
This is a long shot but definitely one to keep your eye on for fantastic risk to reward.
Traders, if you have your own opinion about this idea, write in the comments section, I always reply. 💬
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EURGBP Long OpportunityHey, if you like this idea be sure to support with a like and a follow.
Here is my analysis for EURGBP for the upcoming week, wait for price to pullback to retest SUPPORT and take a long up to the next resistance area where we can expect a sell.
What are your thoughts? Leave it in the comments below!
Blue Signal FX Rules-Based Trading
1. CHECK THE NEWS!
2. WHAT IS THE OVERALL TREND?
3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE.
6. CHECK FOR DIVERGENCE.
EurGbp TFh1 idea with High RRRExpected range for Swing Trading 1SD
0.85647 - 0.84788
Waiting for the price pullback then buy at OB + Wyckoff Re-test zone + Bottom of the expected range for swing trading 1SD
Buy Zone
0.84910 - 0.84829
Targe Zone
0.85902 - 0.85574 (Top of the expected range for swing trading 1SD)
* For safe SL. You can place your SL under the bottom of the expected range for swing trading 1SD.