EURGBP.P trade ideas
Potential bullish reversal off pullback support?EUR/GBP has bounced off the pivot and could rise to the 1st resistance which acts as a pullback resistance.
Pivot: 0.8273
1st Support: 0.8223
1st Resistance: 0.8317
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EURGBP-BUY strategy 6 hourly chartThe pair did not correct upwards, although limited on my update before my travelling, and fell short of expectation. Now we are much lower and it is oversold (not extreme) and stochastic and other indicators show some chance for recovery towards 0.8350.
Strategy BUY @ 0.8270-0.8295 and take profit @ 0.8345.
EURGBP Wave Analysis – 18 February 2025
- EURGBP broke the support zone
- Likely to fall to support level 0.8265
EURGBP currency pair recently broke the support zone between the support level 0.8300 (which stopped the previous impulse wave i at the end of January) and the 61.8% Fibonacci correction of the upward ABC correction 4 from December.
The breakout of this support zone accelerated the active short-term impulse wave iii of the higher order impulse wave 5 from January.
EURGBP currency pair can be expected to fall to the next support level 0.8265 (former low of the minor correction b from the end of December).
The Breakdown Pattern + 3 Step Trading SystemAm feeling so lazy and sad as I think
about the amount of
time it took me to master trading.
Am thinking about how all
my friends have moved on with their lives.
While I remember struggling to learn about
capitalism in order to raise money for
my dreams.
As these thoughts run through my mind
I took a walk to help myself and it helped me
and calmed my heart down.
i had to be very bold to
post this trade CAPITALCOM:EURGBP
because I have made mistakes in my last
forex trades but this did not discourage me at all
Am from reading a powerful email newsletter
that talks about the
power of the breakout market cycle
in this case, we are looking at the breakdown
This is when resistance becomes support
this breakout happened a day ago
but I think there is still a chance to trade.
This chart pattern follows the rocket
booster strategy.
It has the following 3 steps:
1-The price has to be below the 50 Day Moving Average
2-The price has to be below the 200 Day Moving Average
3-The price has to gap down on a new 52-week low
This last step is very important because this
is the market cycle of a breakdown.
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EURGBP key trading level at 0.8360The EURGBP currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 0.8360. An oversold rally from the current levels and a bearish rejection from the 0.8360 level could target the downside support at 0.8312 followed by the 0.8290 and 0.8270 levels over the longer timeframe.
Alternatively, a confirmed breakout above the 0.8360 resistance and a daily close above that level could trigger further rallies higher and a retest of the 0.8380 resistance level followed by 0.8400.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
momentum adds to our previously shared pound shorts.momentum adds to our previously shared pound shorts.
If dips further the zones shown are highly attractive for this week
Check out our socials for some nice insights.
Let us know if there're any pair you like to see or if this is something you like.
Do ask if you have any question
Not as refined as our direct trade setups. More for advanced active traders.
information created and published doesn't constitute investment advice!
NOT financial advice
EUR/GBP may go lower next weekPrice filled sunday's gap and from there we got a strong impulse down.
Price also stuggled to go up from support at 0.83000.
Bulls were weak or there was low interest in buying.
This tells me that price may go down lower and at least take out week's
lows.
For entry wait for some pullback or open a small position
and add to it later. This because friday ended with
strong bearish candle and current prices doesn't give a good
R/R.
EURGBP: Bulls Will Push Higher
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the EURGBP pair price action which suggests a high likelihood of a coming move up.
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#EURGBP 4HEURGBP (4H Timeframe) Analysis
Market Structure:
The price is currently forming a symmetrical triangle pattern, indicating market consolidation and reduced volatility. This pattern suggests that the price is preparing for a breakout, but the direction remains uncertain. A breakout on either side will provide further clarity on the next potential move.
Forecast:
Traders should wait for a confirmed breakout in either direction before entering a position.
Key Levels to Watch:
- Entry Zone: A breakout above the resistance trendline may signal a buy opportunity, while a breakdown below the support trendline may indicate a sell opportunity.
- Risk Management:
- Stop Loss: Placed beyond the breakout level to manage risk.
- Take Profit: Target the next key support or resistance levels, depending on the breakout direction.
Market Sentiment:
A symmetrical triangle represents market indecision, and a breakout in either direction will determine the next trend. Waiting for confirmation ensures alignment with the prevailing market movement.
EURGBP Will Fall! Sell!
Please, check our technical outlook for EURGBP.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.831.
Considering the today's price action, probabilities will be high to see a movement to 0.826.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EUR/GBP - Weekly OutlookTop Down Analysis
Daily- We appear to be making a Batwing Fibonacci. Targeting two points of liquidity . I would like to sweep sell side Liquidity before reversing from that Mitigation Block you will see in the 4H
4H- Elliots wave correction finishing the "E" leg suggesting a larger move out of this liquidity trend
1H- Same view expect I mark out in better details where I belive a Liquidity grab might occur
Good luck to all the traders that might follow