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Eurgbptrend

EURGBP: Keep These Two Resistance Levels on Your RadarIn the near term, the 0.8925 area will likely attract an influx of offers. Any bearish price action from here could provide an attractive short setup. However, I have a sneaking suspicion that bulls want to take prices to 0.8980. This area served as resistance back in late July and subsequently attracted bids on the 12th and 13th of September. I’m going to hold off to see what kind of price action we get at 0.8925. A daily close (5 pm EST) above it would open the door to the next resistance level at 0.8980. This too is an area that could produce a favorable selling opportunity. As long as 0.8980 holds as resistance on a daily closing basis, I will maintain the idea that a major reversal is likely. Given the location of the weekly swing highs and lows since 2015 (see chart above), it appears EURGBP bulls may be ready to capitulate. Key support from here comes in at 0.8744 followed by 0.8600. The latter will be my target should we get a favorable short setup in the coming days. Source: bit.ly
by Daily-Price-Action
EURGBP: Keep an Eye on 0.8925 Next WeekBy Tuesday at 5 pm EST, EURGBP sellers had secured a 0.9008 close, which was well below our key level at 0.9040. This left us watching for selling opportunities from the 0.9040 area for a move toward 0.8920 and perhaps 0.8780. This week’s aggressive selloff leaves the EURGBP overextended, particularly when we compare today’s price with the 10 and 20 EMAs in the chart below. With this in mind, a bounce from the 0.8780 area early next week would not be a surprise. In fact, I’ll be keeping an eye on this level for a second opportunity to get short. A daily close below the 0.8780 handle over the coming weeks would expose the next key support at 0.8600. A close below that would target the unfilled gap from April 21st at 0.8369.
by Daily-Price-Action
EURGBP - Long on Hawkish DraghiWe have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a long trade on the EURGBP should we see and hear hawkish sentiment from Draghi. The Euro has been the stronger of the two currencies over the past week, and over the past month, and is currently sitting at resistance. We would prefer to see this pair fall into a level of support before the news, giving us a better entry. We would also look to take a long on a breakout condition with a small position, adding to it as the bullish move is confirmed.
Long
by Mase_00_7
8
Patience is virtue with this annoying pairAfter forming a fakey bar on the daily time frame, this Forex pair took me out of my trade just to have another price rejection in which I did re-enter again a long trade. For four trading days, this pair has been going on sideways which was slightly tempting me to close the trade at Breakeven,.. not closing it was a good decision. Plus I also noticed the inside bar formation on weekly time frame. This pair has been trying hard to push the price higher and higher.
Long
by bearvsbullmarket
Euro-Pound's descending triangleFor the past several days, the EURGBP pair has been trading on a descending triangle. As what the formation suggests, a downside is imminent from this day forward despite the spike up. I actually had a long setup at 0.86020 wherein an inside bar pleasantly formed just about the 200sma along with a huge bullish pin bar as the mother bar. I've drawn a second descending trend line just above the hypotenuse to prevent trading a false breakout as seen just right above the right angle. Shorting at this level may be ideal; good risk-reward ratio. However, risk may heighten as Draghi is scheduled to give a speech hour(s) from now.
by bearvsbullmarket