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Eurgbpsetup

Bullish potentialImmediately after mitigation, the market created a distribution phase which spiked out to collect the liquidity and swiftly broke out of the phase accordingly. The break out made a pullback to complete the chart pattern and aggressively reduced to mitigate the internal demand zone. This mitigation pushed up to the fair value gap which is now blocking the price. From this rejection, price is more likely to fall and violate the fair value gap. Should the market go according to this setup, then it is going to be a long buying opportunity…
by tokelohomi
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly on the UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. Also, even if BOE RATE HIKE, we were not able to see BOE's intervention. The reason for a POSITIVE SENTIMENT in EUR is that the USD has been quite WEAK in recent weeks. But a good UP SIDE BIAS is coming for EUR now with the MARKET SENTIMENT. Due to this reason, all MARKETS including STOCKS can be seen to be UP due to MARKET RISK being ON. It affects the EUR in a big way. The ECB did a RATE HIKE. BOE also did a RATE HIKE last week. - EURGBP can definitely go up to the RESISTANCE LEVEL above. Due to USD WEAK, EUR may be quite STRONG. Accordingly, EURGBP can go up slightly until the 0.8958 LEVEL. And after that EURGBP can be SELL to 0.8758 LEVEL. The given STRUCTURES should be BREAKED for that...
by benny_marshall
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly on the UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. Also, even if BOE RATE HIKE, we were not able to see BOE's intervention.. The reason for EUR to have a POSITIVE SENTIMENT is that USD has been quite WEAK in recent weeks. But a good UP SIDE BIAS is coming for EUR now with the MARKET SENTIMENT. Due to this reason, all MARKETS including STOCKS can be seen to be UP due to MARKET RISK being ON. It affects the EUR in a big way. The ECB did a RATE HIKE. BOE also did a RATE HIKE last week. - EURGBP can definitely go up to the RESISTANCE LEVEL above. Due to USD WEAK, EUR may be quite STRONG. Accordingly, EURGBP can go up slightly until the 0.8860 LEVEL. And after that EURGBP can be SELL to 0.8450 LEVEL. The given STRUCTURES should be BREAKED for that...
by benny_marshall
EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly on the DOWN SIDE. The main reason for that is the NEGATIVE RISK SENTIMENT for EUR. And we can mention BOE intervention. The reason for positive sentiment in EUR is USD SELL. But a good UP SIDE BIAS is coming for GBP now with the MARKET SENTIMENT. Due to this reason, all MARKETS including STOCKS can be seen to be UP due to MARKET RISK being ON. It affects the EUR in a big way. - EURGBP can definitely go up to the RESISTANCE LEVEL above. Due to USD WEAK, EUR may be quite STRONG. Accordingly, EURGBP can go up slightly until the 0.8812 LEVEL. And after that EURGBP can be SELL to 0.8500 LEVEL. The given STRUCTURES should be BREAKED for that.
by benny_marshall
1
EURGBP LongWhen we move onto the weekly time frame. We can see a sharp moved took place around the week of the 29th of August. This resulted the price breaking a weekly structural level which has been holding steady since around May of 2021. This combined with the breakout on a falling wedge pattern on the daily time frame add to our narrative of looking to go long on the EURGBP pair. We expect a return of between 13 %to 17% depending on how much you are willing to risk per trade.
Long
by NDOBObanks