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Eurgbpshort

EURGBP SHORT / SELL $MART-MONEYWe broke structure on a Daily timeframe to a downtrend. Currently mitigating toward the sell orders in a 4H timeframe. Price is failing to create Higher Highs. On the 1H we broke structure to the down side and are currently retracing towards our institutional candle. Confirmations in this trade: Fib Retracement leveles 78.6% - 88.6% (Red area) Institutional move / candle Mitigation 50% of entire push up prior to the drop. (POI) Higher time-frame structure Break of structure in 1H Risk to Reward over 1:3 Setting sell limits and have alert around area for a sniper entry within a 5m/15m Break of structure. Eyes on distribution in that area
Short
by kevhernandez9
EURGBP - Bearish BiasEURO - Weak Bearish 1️⃣ Lack of raw material supply in the European Zone could cause disruption to economic recovery. 2️⃣ Germany’s IFO Business Climate declined to 97.7 in October, the lowest level since April 2021, lower than market expectations of 97.9. 3️⃣ The ECB is expected to maintain its dovish stance in its October meeting, but investors will be monitoring the latest statements on Tapering and forward guidance on the economy and inflation. GBP - Strong Bullish 1️⃣ BoE Governor Andrew Bailey said that the central bank needs to act not as quickly as possible amid increased risks to medium-term inflation expectations. 2️⃣ Investors are now predicting that the BOE will raise interest rates by 25 basis points in the next meeting with a probability of 62%. ===== Technical ===== EURGBP has broken the support levels. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction. Don't forget to like, comment, and subscribe for more ideas.
Short
by MonsunAsia
1
EURGBP SHORTAnother round of commentary from the BoE over the weekend with Governor Bailey signalling yet again that the BoE will have to act in order to curb down inflation. The Governor noted that while monetary policy cannot solve supply-side problems, which the UK economy is currently facing, the Bank will have to act and must do so if there is a risk to medium-term inflation and inflation expectations. Despite all this, Bailey reiterated that he believes higher inflation will be temporary. On the labour market front, the Governor said that labour market demand continues to be stronger than expected, although concerns about labour supply and growth remain. Admittedly, with these latest comments prompting money markets to increase BoE tightening bets further with the November meeting now seen as a 60/40 call, my recent GBP piece does not look to have aged all too well. That being said, not every member on the committee is on board with raising interest rates so soon with the more dovish Tenreyro sticking with her cautious tone. A break of strong support at 0.8470 confirms downtrend continuation bias. Selling pull backs into this level, which should act as resistance is the preferred approach. The Euro is battling against a strong USD whilst the GBP is being supported by the Bank of England’s rhetoric on interest rate hikes. A longer term target could test the 0.8350 area.
Short
by AbdallaAmgad