Eurgbpshort
Jamie Gun2Head - Sell EURGBPTrade Idea: Sell EURGBP
Reasoning: Broken through previous support, now presenting a bearish flag formation. Looking for lower levels
Entry Level: 0.8310
Take Profit Level: 0.8213
Stop Loss: 0.8325
Risk/Reward: 6.47
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Possible BPC Pattern on EURGBP ChartPrice recently broke below the 0.82977 daily horizontal support level. There has also been a pullback and we're probably witnessing a continuation of the downward trend as signalled by the bearish harami candlestick pattern slightly below the same support level.
A good entry price is around 0.82886; with stop loss at 0.83061 (about 17.5 PIPS) and take profit at 0.82245 (about 64.1 PIPS). These should give a reward-to-risk ratio of 3.66 or thereabouts.
As always, look before you leap.
Happy trading!
EURGBPThe euro is approaching a very important region on the longer-term charts as far as support is concerned. The 0.82 level being tested is a big deal, and if we were to break down below that level, the bottom will follow out of this pair. More likely than not, we will get a short-term bounce, but I would be a seller of that move because without a doubt the euro is one of the weakest currencies that we currently deal with. If we do get that breakdown, it will become a longer-term position.
EURGBPThe EURO has been in a downward spiral against the GBP ever since the start of the pandemic and more so since September 2020. In addition, Europe’s proximity to the invasion of Ukraine, both in geography and economically, has only helped suppress it further as the conflict became more widespread.
EURO MAY BOUNCE AS THE UKRAINE CRISIS DE-ESCALATES
EATING PIPS 77
EURGBP | TRADING UNDER SUPPORT
EURGBP has broken the important support zone and trading below it. The price took the bounce from minor supports now and it might test 7th Mar 22 support once again.
For long positions, one can wait for the break above falling trendline and trading above the important zone.
Trade your levels accordingly.
EURGBP ANALYSIS
Plan A : Long
As overall trend seems to be
bullish so we have to wait
until it properly breaks above 0.83651.
S.L : 0.83048
T.P 1 : 0.83938
T.P 2 : 0.84395
T.P 1 : 0.84911
------------------------------------
Plan B : Short
Bullish Trend line is broken at 4H.
Also seasonality goes is favor
of bears 11/15 times. If double top
is created at 0.83651 then
go for short trade.
S.L : 0.83745
T.P 1 : 0.83165
T.P 2 : 0.82695
P.S : All the details are attached below.
EURGBP | RESPECTING SUPPORTEURGBP after making a top of 0.82120 has drop sharply and reached to the support zone. We are expecting price will increase as this support area has been reactive in the past
The only hurdle for the bulls is falling trendline which if taken out the new trend will begun.
Trade your levels accordingly.
EURGBP LONGS📉📉📉📉 Expecting bullish price action on EG as price takes out weekly lows liquidity and closing bullish above. We had a strong bearish movement without correction and i expect the price to retrace in the upcoming days, a lot of bearish imbalances were formed around 0.84200 / 0.84700 price area.
What do you think ? Comment below..
Tue 5th Apr 2022 EUR/GBP Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/GBP Sell. There have been a lot of QMP Filter dots on this pair lately, making it tough to trade. Enjoy the day all. Cheers. Jim