EURGBP break the supportAt 16.Aug EURGBP price arrived to a support level. The first try to breakout isn't sucessfull and the price bounce from this level, but 22.Aug the price try again, and it was a successful. We can see the breakout and today 27.Aug the backtest. Today the price is at best place to open short positions, with 0.892 Target(the next support)
Eurgbpsell
EURGBP: Expecting A HUGE Price Swing! Whats up everyone? Lets start this new trading week with a new idea!
We are looking at the EURGBP pair on the 4h timeframe and im expecting price to drop from now. When you guys look on the overall timeframes like the daily etc. you will see how bears take control.
I really like to enter right now on the retrace, with really high reward to low risk - as always.
Potential price tragets are where price did a little bit of a gap. But looking on the daily or weekly timeframes, we can also hold the trade for much lower targets!
Will this trade be the 5/5 trade for us?
Lets see!
Wishing everyone success and a great week!
EURGBP ShortPossible correction at this price. We used Elliot Waves to determine the turn point. On the other hand this price of GBP is at 2 year lows which could also indicate down turn aswell as seasonal effect in September. We think that the correction should hit price 92.200 and at that price we will see if it breaks out.