Eurgbpsell
EURGBP SELL IDEA** JUST AN IDEA. NOT A SIGNAL **
It seems like there is a multi time frame forming where if the trades breaks out of 0.90150 then the trade will look to go long.
However from the weekly patterns and the current 4h graph we can assume that the bears will push down the trade significantly.
Three spots of take profit are set with a somewhat tight SL at the point of resistance where the line was previously tested.
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EUR/GBP Wave Analysis
The counter has kicked off a short-term bear cycle and it is now at its wave 4.
Further, the wave 4 correction could be interpreted as an expanding triangle pattern.
It hit the top of the triangle and is now cooling off which we believe is a new bear cycle in the near-term.
And a head and shoulder pattern has formed as well and hence we expect the pair to be bearish in the near-term.
EURGBP sell on the pullback for 90+ pipsNice and easy setup this. After a decent downtrend we have seen some pullback followed by a nice bearish cande which suggest we should see more downside movement. I have gone short on this and marked the tp and sl for you as well.
Let me know your toughts as well.
Trade safe and good luck.
FURTHER SELLING POTENTIAL ON EURGBP 4HRPrice is currently showing minor bullish momentum in the form of a retracement. We may see price re-test our entry point before advancing lower to our target levels. Entry, Stop loss and take profit levels have been marked.
Should price move in our favour, you should be looking to scale out the majority of your position at TP1 , move the stop loss of your remaining position into profit and let it run. Or close completely at TP1
EURGBP CONTINUATION SELLLooking for potential continuation sell on this pair.
Price broke thru the inner trendline and is currently in the 38.2% fib zone for the move down.
If price respects this level, I anticipate a roughly 178 pip move to the down side to complete the entire move.
Price could potentially go back to .862XX area. Will hold and trail SL if we make the move to the downside.