Eurgbpshort
EURGBP / HUGE SHORT INCOMINGYou could short this now but probably best to wait for break and retest of the support zone
EURGBP SHORT PLANEURGBP DAILY CHART
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Short on Pullback | Strong Zone of Confluence-Ascending TL breakout, looking for a pullback to retest confluences
-0.5 fib retracement
-Previous S&R zone
-MA50 shifting momentum
EUR/GBP Technical Analysis
The counter has been in a steady decline for the last 3 months.
Now, it has hit a strong support level which could trigger some profit booking.
Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone.
Hence, we expect the pair to be bullish in the short-term.
EURGBP Short Selling SignalEURGBP seems vulnerable as the Pound has already seen a drop and is now stabilizing but Euro is still weak.
Sell @ 0.8950 with sl @ 0.8985 and tp 0.8930, 0.8910 and 0.8890
EURGBP - 1D - SELL TREND 1. Triangle pattern formed...
2. overall trend also down....
3. breakdown to sell ...
EURGBP - Bearish BiasEUR - BEARISH
1️⃣ As rising coronavirus infections remain in the spotlight and enthusiasm over a working vaccine fades.
2️⃣ In Germany, the federal government and regional leaders will meet again in a week to discuss the need of further restrictions.
3️⃣ The Eurozone consumer prices dropped 0.3% from a year earlier in October 2020, matching the previous month's decline.
GBP - BULLISH
1️⃣ Optimism surrounding a post-Brexit trade deal as Britain's chief negotiator David Frost told Prime Minister Boris Johnson to expect an agreement with the EU as soon as early next week.
2️⃣ Annual inflation rate in the United Kingdom jumped to 0.7% in October of 2020 from 0.5% in September, and above market expectations of 0.6%.
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Technical
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We are looking to sell the EURGBP at the resistance of 0.89550 + below SMA 50 on H1 chart.
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