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DeGRAM | EURGBP price deceleration EURGBP is approaching a major resistance level and dynamic resistance. The market dropped from this level twice. Price broke out of the descending channel and started decelerating while approaching the resistance. The market printed a bearish harmonic pattern, which adds more confluence to the level. We anticipate a sell off and bearish move since price action in the consolidation phase. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
5
Lingrid | EURGBP Brekaout of the DOWNWARD channelThe market reached main support and it formed a range. Price could not update its lows. Instead it created a strong divergence at support level . As you can see it made impulse move down then rejected the support and made impulse move up. I expect the price goes to resistance and beakout of the channel. I think price may go to resistance level which is 50% of the bearish move. My goal is resistance at 0.85830 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
6
20 Reasons For Buy EURGBP🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: The overall structure is bullish, but the current phase is corrective. The low has already been confirmed, and an impulsive move with significant volume and valid momentum candles indicates a potential breakout of the narrow range in the bullish direction. 2:📆Monthly: A sideways to bullish market is observed, with a confirmed low. However, this move also seems to have absorbed liquidity on the lower side. The presence of a doji formation at the end of the candle suggests the need for confirmation. 3:📅Weekly: The market is near the lowest level of the move, and the low has already been confirmed. The price action at this level is at a decision point for continuation or reversal. The strong reversal sentiment is indicated, especially by the consecutive inverted hammers this week, along with the gap-up opening. 4:🕛Daily: The recent price action shows more bullish candles compared to bearish candles in terms of size and count. The previous candle before the lowest point experienced significant volume, indicating profit booking. Today's pro-gap suggests overnight developments in this pair, so the closing of today's candle will provide a clear institutional blueprint. 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bearish 6: 2 Pattern Candle Chart: Pro-gap and medium strength closing are significant patterns to consider. 7: 3 Volume: Significant volume observed during sell-off or profit booking candles. 8: 4 Momentum UNCONVENTIONAL Rsi: A shift from bearish to sideways momentum is observed, along with a powerful 5-candle bullish divergence. 9: 5 Volatility measure Bollinger bands: The double bottom pattern at the middle band resistance holds significant importance. Waiting for further confirmation after a volatile move and the formation of this pattern suggests a potential short consolidation phase. 10: 6 Strength ADX: A fight between bulls and bears is ongoing, but bears seem to be weakening due to their long-standing battle to maintain their positions. Fresh and ready bulls can potentially take control from here. 11: 7 Sentiment ROC: Sentiment seems to be the only factor going against the price action and other indicators. Therefore, today's closing is crucial, and it is recommended to wait for the closing or filter the analysis in lower time frames. ✔️ Entry Time Frame: H1 12: Entry TF Structure: Bullish 13: Entry Move: Impulsive 14: Support Resistance Base: Extreme order block support 15: FIB: Activated and trendline breakout ☑️ Final comments: Open a buy entry at the breakout. 16: 💡Decision: Buy 17: 🚀Entry: 0.8580 18: ✋Stop Loss: 0.8514 19: 🎯Take Profit: 0.8758 20: 😊Risk to Reward Ratio: 1:3 🕛 Expected Duration: 15 days
Long
by Optimum369
4
EURGBP Expectations: UK Inflation and BoE's Decision this WeekOn Monday, the pound reached its highest level against the euro in 10 months, at 85.25 pence, as investors await the British inflation data and the upcoming Bank of England decision. However, the currency pair quickly rebounded to the support level of the previous week, at 85.42 pence, but is perhaps now tracking down again. In recent weeks, the sterling has experienced a rallied against the EUR and USD (particularly against the USD, marking its largest weekly gain since December 2022). This surge can be attributed to economic data suggesting that inflation in Britain is more persistent compared to the United States and Europe. As a result, traders have started factoring in more interest rate hikes from the Bank of England, leading to increased yields on British government bonds and bolstering the pound. Additionally, investors' expectations have been heightened by recent data showing a faster-than-anticipated growth in British wages. Currently, the pound is down 0.26% against the dollar, trading at $1.278. However, it remains close to the 14-month high of $1.285 reached on Friday. British inflation data is scheduled to be released on Wednesday. Economists predict that the headline Consumer Price Index will have slightly cooled to 8.5% year-on-year, down from 8.7% in April. However, they anticipate that the core CPI, which excludes volatile food and energy costs, will remain steady at 6.8%. If these figures align with expectations, the pound could strengthen further due to the anticipation of additional interest rate increases by the Bank of England. Nevertheless, any unexpected results could introduce volatility into the market, and perhaps validate the recent rebound in the EUR. On Thursday, the Bank of England will announce its decision on interest rates, with investors and economists expecting a 25 basis point hike to 4.75%. There is little uncertainty surrounding this decision, so traders will closely examine the bank's forward guidance. Indications of future interest rate hikes are likely to bolster the GBP.
by BlackBull_Markets