DeGRAM | EURGBP back in the channelEURGBP is in a descending channel between the trend lines.
The price has already reached the upper boundary of the channel and the resistance level, which previously acted as a pullback point.
The chart retains a harmonic pattern.
We expect the decline in the channel to continue.
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EURGBP.P trade ideas
EURGBP Awaiting President Lagarde's SpeechEUR/GBP Awaiting President Lagarde's Speech
Today, during the opening of the US market, ECB President Christine Lagarde is scheduled to speak. Probably the ECB may respond to President Trump's tariff threats.
French Foreign Minister Jean-Noel Barrot has also stated that the EU is prepared to take action in response to Trump's tariffs.
If this scenario unfolds, we may see EUR/GBP rising from its current zone, potentially targeting previous highs.
Key Resistance Zones:
0.8360 and 0.8400
You may find more details in the chart!
Thank you and Good Luck!
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EUR/GBP - Trade Pan (XCI Entry Model)This is another plan to my entry Model I created. I wont be breaking the entry model down here. DM me if you would like details.
Short Term - Price has taken short term buy side Liquidity, we have respected CHoCH meaning we are looking to take more Buy side Liquidity. I will be targeting Imbalance towards my Long Term Swing trade Setup which I will explain
Long Term - We have a weekly Mitigation Block with lots of Sell side Liquidity valid which is also holding a strong Supply zone, Im looking for price to move into my premium level and im hoping for a Limit sell order for my 75% OTE tap.
Good luck to anyone who decides to follow along
Please follow me for future updates
EUR/GBP 30M Order Block Mitigation -Waiting for sweep then EntryDescription:
EUR/GBP is following my 30M bullish bias after mitigating a key order block. Initially, I dropped to the 5M timeframe for entry and spotted a clean CHoCH confirmation, but price moved too fast before I could execute.
Instead of chasing, I followed price action and noticed it mitigated a few inducements (IDM) on the way up. Now, Iโm patiently waiting for a fresh liquidity sweep to confirm re-entry for the next 30M continuation to the highs.
Key Observations:
โ
30M Mitigated Order Block โ Confirms bullish bias.
โ
5M CHoCH Formed โ Entry was possible but moved too fast.
โ
Inducements Mitigated โ Following price to see a fresh sweep for better entry.
๐ Next Step: Watching for a clean liquidity grab before confirming my entry.
Let me know what you thinkโare you seeing the same liquidity moves?
Bless Trading!
Elliott Wave View: EURGBP Looking for Further DownsideShort Term Elliott Wave View in EURGBP suggests rally to 0.8473 ended wave (2). Pair has resumed lower in wave (3) with internal subdivision as a 5 waves impulse. Down from wave (2), wave ((i)) ended at 0.8428 and wave ((ii)) ended at 0.8463. Pair then nested lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 0.8422 and wave (ii) ended at 0.8462. Wave (iii) lower ended at 0.8388 and wave (iv) ended at 0.842. Final leg wave (v) ended at 0.8356 which completed wave ((iii)). Rally in wave ((iv)) ended at 0.839. Pair then resumed lower in wave ((v)).
Down from wave ((iv)), wave (i) ended at 0.8352 and wave (ii) ended at 0.837. Wave (iii) ended at 0.8299 and wave (iv) ended at 0.8345. Final leg wave (v) ended at 0.8288 which completed wave ((v)) of 1 in higher degree. Pair corrected higher in wave 2 with internal subdivision of a zigzag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 0.8335 and wave ((b)) ended at 0.8311. Wave ((c)) higher ended at 0.8378 which completed wave 2. Pair turned lower in wave 3. Down from wave 2, wave ((i)) ended at 0.8306. Expect wave ((ii)) rally to fail in 3, 7, 11 swing against 0.8378 and more importantly below 0.8472 for further downside.
Could the price reverse from here?EUR/GBP is rising towards the pivot and could reverse to the 1st support level which is a pullback support.
Pivot: 0.8356
1st Support: 0.8288
1st Resistance: 0.8389
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURGBP Will Move Higher! Buy!
Here is our detailed technical review for EURGBP.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 0.832.
Considering the today's price action, probabilities will be high to see a movement to 0.840.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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EUR/GBP - Bullish Bias๐น 4H Timeframe:
โข Broke a major Higher High (HH) โ Confirmed bullish structure.
โข Engineered liquidity at an order block โ Expecting a move higher.
๐น 30M Timeframe:
โข CHoCH confirmed โ Bullish intent established.
โข Took out sell-side liquidity (SSL) and inducement (IDM) to mitigate a 30M order block.
โข Plan: Looking for a bullish reaction from the 30M order block โ Entry on confirmation for further upside continuation.
๐ฏ Target: Next major high.
๐ Invalidation: If price breaks below internal structure lows.
EURGBP BEARISHSELL STOP at the given price with SL and TP. We will update the trade later.Just watch an eye over it.
The impulse wave is downward.You can go to multiple timeframe(D,W,M) to observe it.We expect one more drop before going up.The Sell stop trade can also get cancelled if we go our new high.We will update the sell trade later.
Fundamental Reason: Crowd are buying this asset so we are selling it.
EURGBP: What Are You Anticipating With This Volatile Pair?I am a swing trader, as you can probably tell from the timeframes I use in my posts. However, I do believe that EURGBP lends itself better to day trades or position trades, if you can stomach the movement. Considering it has made, for me, surprising reverses just when you think it would push further, I offer a couple of scenarios for both a sell and buy possibility. I do see EURGBP selling further but this is a pair you want to be prepared for movement in the opposite direction as well. Game plan, ready! What would be your move?
Bearish drop off 50% Fibonacci resistance?EUR/GBP is rising towards the pivot and could drop to the 1st support that lines up with the 61.8% Fibonacci projection.
Pivot: 0.8374
1st Support: 0.8222
1st Resistance: 0.8464
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURGBPOn Tuesday, February 11, 2025, Bank of England (BoE) Governor Andrew Bailey will deliver a speech titled "Are we underestimating changes in financial markets?" at the University of Chicago Booth School of Business in London.More hawkish than expected is good for currency.As the head of the central bank(BOE), which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary polices.
Here's how this, combined with other fundamental data, might affect the GBP and the EUR/GBP trade directional bias:
Andrew Bailey's Speech:
Monetary Policy: Bailey's remarks followed the BoE's decision on February 6, 2025, to cut the Bank Rate by 0.25 percentage points to 4.5%.
Future Rate Cuts: Bailey stated that the BoE expects to be able to cut the Bank Rate further as the disinflation process continues. However, future adjustments would be judged meeting by meeting.
Inflation Outlook: The BoE expects inflation to increase to about 3.7% this year before returning to the 2% target.
Economic Outlook: There is considerable uncertainty over the extent to which weakness in UK GDP persists.
Upcoming GDP and Other Data (Thursday):
GDP m/m (Forecast: 0.1%, Previous: 0.1%): A reading in line with forecasts may have a neutral impact. A significantly higher number could be GBP positive, while a lower number could be GBP negative.
Prelim GDP q/q (Forecast: -0.1%, Previous: 0.0%): A negative reading would confirm a potential economic slowdown, which could be GBP negative.
Construction Output m/m (Forecast: 0.3%, Previous: 0.4%): Any deviation from the forecast may cause movement in GBP.
Goods Trade Balance (Forecast: -18.3B, Previous: -19.3B): A smaller deficit than forecast could be GBP positive.
Index of Services 3m/3m (Forecast: 0.1%, Previous: 0.0%): A higher reading than forecast could be GBP positive.
Industrial Production m/m (Forecast: 0.3%, Previous: -0.4%): A positive reading could support the GBP.
Manufacturing Production m/m (Forecast: 0.1%, Previous: -0.3%): A positive reading could support the GBP.
Prelim Business Investment will be watched
Potential Impact on GBP and EUR/GBP:
Dovish Signals from BoE: If Bailey's speech reinforced expectations of further rate cuts due to easing inflationary pressures and economic concerns, the GBP could weaken.
Data Dependency: The BoE emphasized that future rate decisions are data-dependent.
Overall EUR/GBP Directional Bias: Given the above factors, the EUR/GBP trade could experience increased volatility this week. If the UK data comes in weaker than expected, this could strengthen the EUR against the GBP.
Important Considerations:
Market Sentiment: Market sentiment and global economic factors can also influence currency movements.
Data Revisions: Initial data releases are subject to revision, which can sometimes lead to a different market reaction.
Risk Management: employ appropriate risk management technique and trade at your own risk,this isn't financial advice but my trading strategy which i teach for free!!!!!!!!free!!!!! free!!!!
EUR/GBP - Weekly Outlook (Strong AMD Model)After breaking this Chart down I have found a setup I am very happy with. I shall break this down to help you understand my process.
4H Chart Only...
Firstly we start off with a strong Buy side Liquidity sweep. This tells me that price wants to target its next lot of Liquidity which is further down towards the labels Demand zone.
We noticed a CHoCH which would have been a nice trade if you could have captured that move BUT.. you still have time! In my eyes I see a valid AMD Entry Model with Accumulation with some price evaluations followed buy a Manipulation then on the LTF changing character once again giving me a strong confluence that price will push down harder to give us the valid distribution. We haven't see any form of tap of supply zones so I would like to see price pull up and wick into some sort of LTF Supply as we want this Distribution to continue running.
Once we break this Liquidity Trend Line it will be a very high Probability Trade Setup so you could look for sells after taking that Breakout too
Good Luck to the Traders that decide to follow.
EURGBP - Weak Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
๐ EURGBP has been bearish trading within the falling wedge pattern in blue.
Currently, EURGBP is approaching the upper bound of the wedge.
Moreover, the orange zone is a strong structure.
๐น Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the orange structure and upper blue trendline.
๐ As per my trading style:
As #EURGBP is around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURGBP Channel Down sell signalThe EURGBP pair has been trading within a Channel Down pattern since the November 16 2023 High. The recent Lower High rejection just above the 1D MA200 (orange trend-line) resembles both in terms of 1D RSI and price action the August 08 2024 Lower High.
Since that posted an initial correction of -3.62%, we expect an equivalent Bearish Leg to target 0.81750.
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EUR/GBP - Long Trade SetupThis In my own opinion is a strong looking trade setup.
Currently we have a Daily/12/6/4/1 Hour all Bullish Setup. Only smaller TF's are showing LL's
Consolidation phase seems to be forming its last leg according to Elliot's Wave Theory telling me we are going to be looking to breakout of this Trend.
Previously I predicated price to have another run down to the final Demand zone (I will link my post to that Idea)
Indicators confluences - Currently MacD on the daily is showing us we are slowing down with sellers momentum although PA is still bullish giving me more suggested signs we will be having a decent Bullish Run.
PM me for more details in this trade setup
Good luck to all the traders that follow and make sure to use risk management