EURGBP BULLISH FOR 100PIPSWhen you say "EURGBP bullish for 100 pips," you're forecasting that the price of the EURGBP currency pair will rise by approximately 100 pips. Let’s break down what this means and how it could unfold:
1. Bullish Trend
"Bullish" indicates that you expect the price of EURGBP to rise in value, meaning the Euro will strengthen against the British Pound.
Traders will typically buy the EURGBP pair in anticipation of this price increase.
2. Target of 100 Pips
A "pip" (percentage in point) is the smallest price movement that a currency pair can make. For EURGBP, 1 pip usually equals 0.0001.
If you're forecasting 100 pips, you're expecting the price to move from its current value to a higher value by 100 pips.
For example:
If the current EURGBP price is 0.8700, a 100-pip move would target a price of 0.8800.
3. Why a Bullish Move?
A bullish forecast could be based on:
Technical Analysis: Identifying key support levels, trendlines, or chart patterns (like a breakout above resistance, or a reversal from a strong support zone).
Fundamental Factors: Economic data or news that may support a stronger EUR, like positive Eurozone data or weaker UK economic reports.
Market Sentiment: If traders are generally more confident in the Euro than the Pound at the moment.
