Eurgbpsell
EURGBP approaching resistance, look out for potential reversal!
EURGBP is approaching its resistance at 0.90249 where it is could reverse down to its support at 0.90016.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.
Tuesday market updateHi everyone!
It's Max here, as always going live Pre London with few charts and setups that I am currently monitoring and can be ready pretty soon.
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EURGBP Break the Rising wedge pattern EURGBP has to Break the Rising wedge pattern Successfully we little bit late to take them but no problem still there Good Risk to Reward Ratio.
In Major time frame, EURGBP is making Channel pattern which has properly test the resistance level looks like making a reversal and in the 4hrs time frame we have caught the Rising wedge pattern Break down.
Just Follow the swing low point for Step by step targets
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Adil Khan
Next Key Levels for EUR/GBP Per Investing.comThe cross is receding 0.06% at 0.8978 and a break below 0.8948 (21-day SMA) would expose 0.8872 (low Jun.20) and then 0.8826 (low Jun.5). On the flip side, the next hurdle is located at 0.9010 (monthly high Jul.10) seconded by 0.9062 (low Jan.11) and finally 0.9092 (2019 high Jan.3).
EUR/GBP Divergence Swing TradePrice on the weekly chart is overall in a downtrend making lower highs and lower lows and where price at right now is expected to be a lower high.
There is a divergence as well, lower high higher high which are my favorites because RSI is in our favor compared to the hidden divergences.
It's at the top of the bollinger band and made a doji for last weeks candle and as of right now the candle spiked up and is just a little above where it closed last week.
FREE ANALYSIS ON EURGBP - MASSIVE FALL COMINGFREE ANALYSIS ON #EURGBP
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15 Min
Price just broke down my 100 WMA and 150 EMA. Price was rejected at the top trend line. MACD and Stoch RSI showing bearish divergence also.
1 HOUR
Buys still in the Market so be careful MACD & STOCh Rsi both showing bearish divergence. Price above all 3 MA's. Best to wait for break in black trend line
4 HOUR
We are in the sell region and price also forming a flag. Expecting drop soon. MACD again showing bearish divergence.
OVERALL
Bearish Outlook expecting the bearish momentum to continue
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FREE ANALYSIS ON EURGBP - BIG DROP COMINGFREE ANALYSIS ON EURGBP
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1 HOUR
This is more bearish. We could see some minor bearish move. Personally i am waiting for the bigger move down.
4 HOUR
Possible Ending diagonal forming. MACD and Stoch RSI both showing bearish divergence.
DAILY
Price Broke above all MA's. we are looking at a resistance level between 0.90100 and 0.90700. Watch out for break down. MACD & Stoch RSI both above the over bought level and turning down. Importantly Stoch RSI also showing a possible bearish hidden divergence.
OVERALL
Expecting a bullish move to unfold on this pair in the next week.
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EURGBP approaching support, potential for a bounce!
EURGBP is expected to drop to 1st support at 0.88747 where it could potentially react off and up to 1st resistance at 0.89861.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.