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Europound

Waiting for the pullback or break.This is a closer look at my previous post for the Weekly time frame. Here on the H4 time frame we can see that I am expecting wave 3 to complete to the downside before the price should rally. There was a spike which caused a double bottom though which could see the break come before my structure plays out as indicated here. That means I am waiting for one of two things before entering the long: 1. A H4 close above the resistance of this structure 2. A push down to the bottom of the structure to complete wave 3 Either of the above events would signal the long entry and I am looking to capitalize on this move! Happy Trading! Linton White JP Markets South Africa
Long
by Linton_White
1
EURGBPEURGBP currently retracement on the daily trendline which is also a very important supply-demand shifter channel zone. But the current reaction is not strong enough as you can see, we will observe on 4h time frame movement in the wedge. We expect to see stop hunting and third upside moment then may give us some bearish signal. After that, we can adjust our risk-reward ratio and pull the trigger. Our targets would-be around 0,84820 and 0,83995 Good Luck! If you have any other opinion about EURGBP, let me know in the comment section below. If you enjoy this free analysis, hit the thumbs up button and don't forget to follow! May we meet again. -mecZpasha
by SenseiAnalyst
Update: EUR/GBP - Crashing Channels *Yellow = 200 EMA | Blue = 100 EMA The first update for OANDA:EURGBP . After a successful analysis posted at the beginning of August, the analysis outlined resistance at 0.93332 and price found resistance at 0.93244, along with that, channel 1 and channel 2 were successful supports, but the initial analysis suggested that around 0.905 level there would be a retracement, and it instead acted as a buffer. Price consolidated for a couple of days before breaking channel 2 on the way down. Price is currently in a retracement after finding support on the 200 EMA after breaking a 45º trendline. What to look for in the next 2 weeks?: a) Look for resistance around the 0.905 level which has acted as strong resistance in the past specifically between late August 2018, to mid-January 2019. b) Support for this downtrend could be around 0.870 level which has been used as support and resistance from late September 2017, all the way to mid-April 2019. c) Once price moves out of its retracement phase look for a resumption of a 45º trendline - which is a healthy pace and could mean a break of support. Hopefully, this update was helpful to everyone reading and brings insight into their trading. Good luck traders!
Short
by olympus_trading
EURGBP HEAD AND SHOULDER ADVANCED PATTERN FORMING 4HOURPrice action in the hourly time frame is showing us that we have a highly probable Head and Shoulder Pattern forming. The way we execute in this Bearish Market, would be to wait for the breakout of support which is our Neckline. Waiting for Bearish Reversal Confirmation at the pullback of previous structure then executing ourselves into the market after the Conditions in this pair give us reason to enter. Risk to Reward is Optimal for this Trading Idea.
Short
by RiosTrades
EUR/GBP - Can it break the ceiling? *Yellow = 200 EMA | Blue = 100 EMA This is my analysis of EUR/GBP , a pair which has a crossroads ahead of it, particularly this upcoming week. Currently, I see 3 different options : A) Play into Consolidation This is the most probable option especially because we're currently moving on a steep trendline and on bearish divergence. Current price action could eventually trade up to resistance, but it is most likely going to be shot off of resistance and back to its support. B) Play for the All-Time High This is less likely but does offer considerable gains if it does. First, we just broke out of the current price channel and "kissed" off minor support which is in line with the 0.382 level (In the box). Along with that, we see the 100 EMA about to cross the 200 EMA on the 1D indicating strong bullish sentiment. What I think could potentially happen is that price originally respects the upcoming resistance but only retraces to 0.382 Fib level before shooting past resistance and making a play for the all-time high. C) Move down to 0.5 Fib Retracement on the Weekly I don't feel that this is particularly likely, but again, if it does occur it would offer considerable profit and is worth watching for. The 0.5 Fib Retracement on the weekly has been used as support and resistance in the past, and if we break consolidation to the downside it may give us enough momentum to move down to the 0.5 level. Good luck Traders!
Short
by olympus_trading
3
Don't miss the great sell opportunity in EURGBPTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.8955). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURGBP is in a range bound and the beginning of downtrend is expected. . Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. . The RSI is at 26. Take Profits: TP1= @ 0.8890 TP2= @ 0.8840 TP3= @ 0.8680 SL= @ 0.9015
Short
by ForecastCity
Euro to do the Pounding? - Ichimoku EUR/GBP Drawback SetupFor this setup I'm zooming in on the 1 hour time frame. While this pair remains on a bearish trend overall on the larger time frames, it looks like we will be getting a drawback. Keep in mind that since this setup is technically a drawback right now that it carries a little more risk than a standard trend trade setup, so I will only be risking 1.5% of my capital if this trade is triggered.I am looking for an entry if we break above our previous candle to enter a buy position. Since it is a drawback setup (for now) I am not going to aim too far out for my TP. I've drawn several areas that if we see strong resistance I will close partial or the whole position out at. As an alternative entry for slightly better risk to reward, we could also wait for a test of kijun sen again and look to buy there, should a support candle form. I mentioned that this is a drawback setup for now, the reason behind that is, should we hold support and see some bullish signs on those higher time frames, this setup could end up being an early reversal. If we fail to hold support or climb higher, this setup may become invalidated.
Long
by The808Trader
1