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Eurgbpsetup

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
EURGBP BULLS ARE GETTING TIRED.ENG - Price has just reached our .9060 zone, if we see a break we will be looking for short positions around the FIB levels, please be aware that you should wait for a confirmation before entering any shorts. PT - Preço está de momento na nossa primeira zona de possível reversal (.9060), em caso de quebra iremos procurar por novas entradas nos nossos nível do FIB mais a cima. Extra cautela na EURGBP, aguardar por confirmação antes de efetuar uma entrada será o mais adequado.
by Wevesting