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Eurgbpsetup

EURGBP | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair enjoyed 135pips run in our direction before the rally. Now - Since late December 2020, the EUR/GBP has been rangebound between roughly the GBP0.91150 - 0.89500 level and emphatically respecting a channel. Despite most quarters supporting the appreciation of the Euro considering the unfolding of the pandemic after which Covid-19 concerns in the UK led the country into a stricter lockdown last week... I am looking the opposite with a possible risk of further decline as price breaks down key level @ GBP0.90200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand Observation: i. The inability of price to break above GBP0.91000 level since Dec 2020 insinuates that buyers might have lost the momentum as we witness a Breakdown of GBP0.90200 last week. ii. Since Breakdown of Key level, a rejection of this level will be my lead in the coming week. iii. A further Breakdown of Demand zone @ GBP0.89000 with significant candle shall increase my confidence in holding the sell position. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
EURGBP SWING TRADE of the day 13-Oct-2020EURGBP It has reached lower side of the support level and unable to break the level and forming a nice triangle pattern. And the negative brexit headlines are supporting the long for EUR.We can expect the price will reach 0.91320 which is the trend line resistance zone. If the price broke to the downside then we can expect massive downward rally.at the time of writing it is forming a nice bullish engulfing pattern. Stop lose may placed below the 0.89820 level SWING TRADE-EURGBP Entry point @ 0.90490 Take profit @ 0.91620 Stop lose @ 0.89820 Don't risk more than 1% of your capital Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday
Long
by forexorbit
EURGBP Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of EURGBP (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Price is in a strong structure within monthly resistance and support zones. Price moved up to test resistance zone, faced rejection and then started downward move. W > Price created a W formation and dropped to test the neck and complete formation. D > We can see M formation and expect a move up to test the neck before continuing with downward move. As per COT EUR saw closure of more Long than Short, reducing net positions; EUR was very weak for the said week. EXY was positive last week though it reached resistance level and dropped. GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. 4H > We can see bearish trend where price broke last support. We expect a pull back to test neck of M formation before continuing with bearish move. Neck of M will offer good entry. Pair Correlation > EURGBP has negative correlation with GBPCHF, GBPUSD and GBPJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
2
EUR / GBP | Are we going to see 0.9798 the all time high of 2008EUR/GBP | Bearish move after restest? Are we going to see 0.9798 the all time high of 2008 on breakout of the 0.9500 ? Well, EUR/GBP lost upside momentum after hitting 0.9289 and now its consolidating which means it remains above 0.90686 we might see another move to the upside. Breakout of 0.9289 can resume upside move. Based on what we have already, the next target is 0.89109 . Thought we may retest the upside first which may show a false breakout. Let's watch... #JustTradeFxOnline Thanks for your love and support. Don’t forget to like and comment for more.
Short
by Hosi-Khulu