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Eurgbptrend

Elliott Wave View: Downside Pressure in EURGBPEURGBP shows a sequence of lower low from August 29, 2017 high, suggesting further downside is likely. The bounce to 0.9105 on January 3, 2019 high ended wave (2). From there, pair declines as a double three Elliott Wave structure where wave W ended at 0.8615 and wave X ended at 0.884. Pair broke below wave W at 0.8615 and confirmed that the next leg lower in wave Y has started. From 0.88407 peak the market is currently unfolding as an Elliott Wave Zig Zag structure. Which ended wave (a) at 0.8665 low. Above, from there it ended wave (b) bounce at 0.8730. Below from there we expect it to extend into the blue box area of 0.8552-0.8510, which is the equal legs of wave (a)-(b). Where we expect wave ((w)) to end. Afterwards we expect a bounce in wave ((x)) to occur. As long as the market stays below 0.88407 peak we expect it to extend lower.
Short
by Elliottwave-Forecast
EURGBP Analysis+SignalWe added the Fibonacci Retracement to the graph after a relatively large drop or rise it helps to analyze, So last week the euro rallied against the pound and started to rise even crossed the 23.6 Fibonacci line and then stopped right in the 38.2 area and fell back to 23.6, We believe that the price will stabilize and gradually return to the 38.2 Fibonacci and possibly cross it. Be careful with the Doji Candlestick created during the weekly time period (This can indicate the sellers' victory in this war) Buy EUR/GBP Entry Price:0.8759 Stop Loss:0.8720 Take Profit:0.8810
Long
by xosignals