EURGBP - CURRENTLY IN DISCOUNT PRICINGTechnical Overview: - EUR/GBP
We have had the chance to enter on a buy position last week and followed by closing the position before the initial drop we were anticipating.
HTF - We are oversold from a higher time frame perspective and should be looking for long potential opportunities, since we are in the start of the week and US markets are closed on Monday, we do expect price to potentially going lower before we look for any buy opportunities.
We will be approaching this with more caution and look should for confirmation before entering any to the upside.
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Eurgbptrend
EURGBP - Bearish TrapsThere is no denying that this pair is creating stepping down structure, however, It is likely that selling traps will be in place.
I assume many would be selling from the break and re-test of the most recent structure, I will be waiting to get involved in sells from the order block just above it.
EURGBP - CURRENTLY IN DISCOUNT PRICETechnical Overview: - EUR/GBP
We had seen the bearish run down raiding the support level at 0.88500
many buyers and sellers were interested in this very special level.
Due to the fact that the market likes to move where there is liquidity, it is no surprise that we raid this very key lows.
Many of us are taught to buy where price is mostly rejecting, and that's exactly what the big banks want you to believe.
We were anticipating this raid to the downside clearing all buyers and sellers before we can look for buy opportunities.
It is very crucial to point out that we are in discount pricing meaning price is oversold, thus giving us a chance to look for buy potential.
We do anticipate price to come down lower from a smaller time frame, however higher time frame we are using this as a chance to buy these deals!
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Analysis is only 1 piece of the puzzle 🧩
Our analysis is a sentiment for the upcoming week, month.
Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining.
Trade this sentiment based off your own entry strategy at the right time.
Flow with the Devil 😈
Trade with the manipulation👾
EURGBP: HEAD & SHOULDER PATTERNEUR/GBP has made the head and shoulders pattern on the daily timeframe.
After breaking the neckline, it's moving to reach 0.8776 - 0.8700 .
But if it starts to move upside by crossing the neckline, then it's a failure of the head and shoulders pattern. And targets are as followings levels 0.8906 - 0.8946 .
EURGBP will go up now?The price already break the Lower High and High Level which tell me this is uptrend. And also if the price break and close above the trendline will also be confirm that this is an uptrend.
I see 2 choices to open the long position. Buy at retracement (the Red Zone) or buy instant (High-Risk).
This is just my personal opinion and idea. Please trade at your own risk.
EURGBP TECHNICAL ANALYSIS: SHORT POSITION +70 PIPSEURGBP on my last analysis on the weekly chart, managed to break above the strong structure, so I'm personally looking for sell opportunities to enter in the market. The pair ranged between 0.89200 - 0.88680 and now was able to breakdown and is currently retesting the new resistance, if the resistance gets clearly rejected and we can see a possible down continuation i will open a sell position, until the formation of a new lower low.
EURGBP TECHNICAL ANALYSIS; +200 PIPS MOVE WEEKLYOn the weekly chart the pair move in a range between 0.92230 and 0.88600, the resistance at 0.99230 hold perfectly and EURGBP didn't managed to form new highs, the support seems to be breaking and if we have the confirms that the support transforms into resistance (clear retest of key level: 0.88600 without breaking through) we might expect the formation of a bearish structure until 0.86780 key point.