EURGBP -- TIME FOR A BREATHER -AFTER THE DROPI REALLY HOPE YOU GUYS CAUGHT SOME OF THE DROP. I MUST SAY IT HIT TAKE PROFFIT AROUND 70% OF THE DROP BUT ITS ALL GOOD. WE CANT HAVE IT ALL :)
EURGBP DROPPED A LOT MORE THAN I EXPECTED
NOW I AM EXPECTING SOME CONSOLIDATION.
THIS SHOULD REVERSE TO SOME RESISTANCE
BEFORE CONTINUATION DOWN
SUPPORT THE MOVEMENT WITH YOUR LIKES,
COMMENTS AND FOLLOW FOR MORE
Eurgbptrend
EURGBP SELL Opportunity is hereEURGBP is in a definite downtrend. It has entered a SELL zone, meaning the end of correction. Assuming GBPUSD got hit less than EURUSD it makes a good sense to SELL EURGBP.
However, keep in mind that this pair is highly sensitive to BREXIT deal news. That might be the reason for technical analysis not to work. So, you might consider TP earlier in case of any fear towards UK getting a bad deal or any such news from reliable news agency.
EURGBP Potential Long Entry50 MA above 200 MA, signalling bullish momentum
We have had 2 pullbacks to what I call 'value areas' where it is a good area to enter long. Currently it is developing a third pullback into a 'value area' which I think would be a good area to go long from.
Target around 0.90140
Stop 0.89100
Good luck!
EUR/GBP Technical AnalysisThe day chart of EUR/GBP pair is currently in a descending channel formation.
The pair was in a long rectangle pattern formation(sideways) and then broken.
But it immediately faces the trendline of downchannel and so it is possible for the pair to exert selling pressure in this price zone.
If sideways breakout becomes a fakeout, then a good downward move is possible.
Chunneling up!-The EURGBP 0.20% yearly candle is green having crossed above the yearly open.
-It crossed above the 50% mark of the old range.
-It's poking above a key S/R level .
-The RSI reads bullish (>50) as it breaks above resistance while still having plenty of room to move to the upside before hitting the over bought range.
-All of this occurs as EURGBP 0.20% breaks out of a falling wedge giving us a measured move target (T2) of ~0.917 IF we make it past the first target (T1) of ~0.903 at the top of the old range.
EUR/GBP Technical AnalysisThe 4-hour chart of EUR/GBP was in the sideways trend.
It was in the price range between 0.86983 to 0.88406 .
The price action indicates that it has given a bullish breakout from the sideways pattern.
We expect the bulls to take control over the counter if it sustains above the price range of 0.88406.