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EURGBP trade ideas

EUR/GBP 1-Hour Technical Analysis1. Wyckoff Accumulation Schematic (Phase B) Phase A: This is the initial phase where preliminary support (PS), selling climax (SC), and automatic rally (AR) occur. In your chart, this is indicated by the initial sharp drop followed by the first corrective move upwards (AR). Phase B: This is the phase of accumulation, where the smart money starts accumulating positions in anticipation of a breakout. In the chart, you’ve labeled "ST IN PHASE B," which means the price is undergoing tests within the trading range and still has potential for further consolidation. We can expect some further tests of support/resistance before a decisive breakout happens. 2. Elliott Wave Count (ABC Correction and Impulse Waves) In the chart, the ABC correction seems to have completed after an impulse wave labeled as wave (1)-(5). We are in the corrective phase (wave A-B-C). It looks like a zig-zag pattern with the corrective wave B overlapping, hinting at the potential for a new impulsive structure to follow. After the corrective wave finishes, we anticipate a fresh impulsive wave (likely Wave 3 based on Elliott Wave) to the upside, aligning with the bullish narrative. 3. Harmonic Patterns A harmonic pattern, potentially a Bullish Gartley, is highlighted with the key Fibonacci retracement ratios (0.618, 0.786). The price is currently at a critical Fibonacci support level (likely the completion of point C). The 0.786 Fibonacci retracement is a key harmonic confluence, indicating a reversal zone, and aligns with a bullish order block. 4. Volume Profile (Accumulation Evidence) The volume indicator at the bottom highlights an uptick in volume around the accumulation phase, which confirms that significant accumulation is taking place. The phase after this may indicate that institutions are preparing for a mark-up phase, where price moves out of this range. 5. Order Block and Smart Money Concepts You’ve marked a Bullish Order Block where the price has reacted multiple times, suggesting a zone of interest for institutional traders. This zone typically holds strong buying pressure and can be a key reversal point. It’s also in alignment with Wyckoff’s accumulation phase, suggesting that smart money is preparing for an upward move. 6. Macro Factors and Event Timing Notably, there are three vertical red lines indicating upcoming Inflation Rate YoY Sell events, likely key economic events that will influence EUR/GBP. You’ll want to monitor these macroeconomic drivers, as they could spark volatility. Given that these are labeled “Sell” events, the market might expect a bearish response to these inflation data releases. 7. Projection for Next Week (October 1st - October 7th) Near-Term Expectation: The pair appears to be in the final stages of Phase B accumulation and is testing critical support. You may see some choppy action early in the week as price tests these zones and final shakeouts occur. Breakout Potential: After this accumulation phase and the completion of the current correction, we can anticipate a breakout above the resistance line, aligning with the Elliott Wave count. Bullish Scenario: If the bullish order block and harmonic support hold, we could see the start of an impulsive rally (Wave 3) towards the resistance levels and above. The breakout should coincide with the weekly close marked around October 4th. Watch for confirmation on price action breaking higher highs. Bearish Scenario: If price breaks below the current support, it could extend the corrective move lower. However, this would invalidate the current bullish wave count. Trading Strategy (Based on the above analysis): Buy Zone: Around the completion of wave C (0.8320 level), which is also a confluence of harmonic support and Wyckoff accumulation. Stop Loss: Place it just below the current support at 0.8300 to account for false breakouts. Take Profit Target: Aim for the high marked near wave 3 (~0.8410 and above) for a medium-term target. Event Risk: Watch for the inflation data releases as volatility could trigger sharp moves, so adjust your position sizing accordingly. By focusing on these levels and aligning the Wyckoff, Elliott Wave, harmonic, and macroeconomic frameworks, you should be able to navigate the next week with a clear trading plan
by spacedevil
9
Bearish Pennant on EUR/GBP @ D1This chart shows a bearish pennant on the daily chart of the EUR/GBP currency pair. It can be used as a trend continuation pattern in case of the price closing below the lower border of the pennant part. The pennant and its pole are shown with the yellow lines. My potential stop-loss level is marked with the red line (0.83861), it is placed at the high of the pennant area. My potential take-profit level is marked with the green line (0.82562), it is placed at the pole's length below the SL. I will wait for the price to close significantly below the lower border of the pennant area to execute a trade here.
Short
by AndriyMoraru
EUR/GBP: Will the 8-Year-Old Support Zone Push EUR/GBP Up Again?EUR/GBP Price Analysis: Will the 8-Year-Old Support Zone Push EUR/GBP Up Again? The EUR/GBP pair is currently testing a long-standing support zone that has been in place for eight years. Historically, this area has acted as a strong foundation, prompting several upward movements in the past. Given this historical context, there is a high probability that we might witness another rise in the EUR/GBP pair soon. But what factors could drive this potential increase? You may watch the video for further details! Thank you:)
Long
by KlejdiCuni
8
Analysis of EUR/GBP on 4H Time FrameKey Terminology & Concepts Wyckoff Method: A technical analysis method that breaks down market behavior into phases of accumulation, distribution, and the price cycles within them. In this case, the focus is on accumulation and last point of support (LPS). Elliott Wave Theory: A concept used to identify market cycles in the form of five waves in impulse movements (labeled 1-5) and three waves in corrections (labeled A-B-C). Point of Control (POC): Refers to the price level where the highest trading volume occurs, often indicating key resistance or support zones. Fibonacci Retracement: A technical tool used to predict possible reversal levels by using common Fibonacci ratios like 23.6%, 38.2%, 50%, 61.8%, and 78.6%. LPS (Last Point of Support): This is the point at which the final price test occurs before the beginning of a major uptrend, in the Wyckoff accumulation phase. Analysis Breakdown Wyckoff Accumulation Structure The chart suggests that EUR/GBP is in a Wyckoff Accumulation Phase, signaling the end of a downtrend and preparation for a potential reversal: SC (Selling Climax): This marks the point where the most aggressive selling occurred, leading to a sharp decline. AR (Automatic Rally): Following the selling climax, there was a strong upward reaction, showing the first sign of buyers returning. ST (Secondary Test): Price revisited lower levels but formed higher lows, indicating accumulation of positions. In this phase, the price is expected to test key support lines labeled as SC accumulation (4H) and SC accumulation (1D), which represent areas of strong buyer activity. Elliott Wave Count The Elliott Wave count within the chart is suggestive of an upcoming impulse wave following a complete corrective structure: The price is currently in Wave A of the larger A-B-C corrective pattern. Following Wave A, a Wave B correction is expected to occur, moving upward towards key Fibonacci levels and resistance zones. Wave C will follow as a final upward movement before a larger reversal. Key Levels & Fibonacci Retracement Several Fibonacci levels are identified in the chart, crucial for determining potential reversal points and entry/exit strategies: 0.618 Fibonacci level (0.8504): This level acts as a key resistance point, expected to be tested during the Wave B correction. This zone aligns with previous resistance lines from earlier AR Accumulation. 0.786 Fibonacci retracement (0.85596): This is the higher level of resistance and the mitigated order flow zone where the price might face strong selling pressure, marking the end of the upward correction. Phases of Accumulation & Distribution The Wyckoff Phases B, C, and D indicate how the market transitions from accumulation to markup: Phase B: In this phase, the market tests both support and resistance levels to absorb supply, causing volatility but forming higher lows. Phase C: Here, the price moves into a spring phase, testing lower levels one last time before the uptrend. This is where the LPS (Last Point of Support) appears as a significant entry point. Phase D: The price begins to markup, breaking resistance levels and confirming the bullish trend. Price Expectations for the Next 2 Weeks The EUR/GBP pair is expected to exhibit the following behavior over the next two weeks: Bullish Impulse in Short Term (Wave B) Resistance Level (0.8504): The price is likely to rally toward the 0.618 Fibonacci retracement level, where the B wave is expected to complete. This movement is part of the corrective pattern after the completion of Wave A. POC (Point of Control): The POC at 0.85716 acts as a strong resistance zone where price consolidation or reversals may occur, further enhancing the likelihood of price stalling at these levels. Wave C Development After hitting the resistance at 0.8504, Wave C will likely initiate a downward movement back toward the LPS area, potentially testing key support levels around 0.8320 or lower. Invalidation Level The invalid level marked at 0.82824 suggests that if prices fall below this point, the current wave count would be voided, signaling further downside potential. This level is critical for traders setting their stop-loss points. Long-Term Accumulation Support The SC accumulation lines (4H and 1D time frames) around 0.8320 to 0.8280 represent strong support areas. As per the Wyckoff accumulation pattern, these zones should prevent further downside and initiate upward momentum in later phases. Conclusion The EUR/GBP currency pair on the 4-hour time frame is currently in an accumulation phase, with a likely upward correction toward the 0.618 Fibonacci retracement level (0.8504) in the next two weeks. Following this correction, the price may experience some consolidation or retracement near the mitigated order flow zone, forming Wave C. The point of control (POC) around 0.85716 acts as a key resistance, while support levels near 0.8320 should provide strong support in the case of any further downside. In summary, the next two weeks suggest short-term bullish momentum towards 0.8504, followed by potential resistance and consolidation around key Fibonacci and Wyckoff levels.
Long
by spacedevil
4
EUR/GBP Technical Analysis – Monthly, Daily, and 4-Hour Monthly Time Frame: On the monthly chart, the price has reached a key demand zone that has historically shown strong buyer interest. This is a crucial area where we are now witnessing a significant reaction, indicating that buyers are stepping in. The bullish pressure from this zone suggests the potential for upward momentum in the coming weeks or months. Daily Time Frame: On the daily chart, we see strong buying pressure that has led to an overextension in the current price action. This overextension is a signal that the market may soon undergo a correction. However, before assuming a reversal, it is important to focus on confirming signals that will validate a potential correction. These signals could include bearish candlestick formations or a breakdown in key support levels. 4-Hour Time Frame: In the 4-hour chart, a clear trend reversal pattern has emerged, indicating a shift in market sentiment. We can observe lower lows being formed, with the most recent low liquidating the previous one, followed by a strong bullish movement. This sweep of liquidity followed by a rally signals that the market has completed its bearish phase and is ready to push higher. Take Profit and Stop Loss Ideas: Take Profit: A reasonable take profit level can be placed just below the next significant resistance area on the 4-hour chart or around key highs visible on the daily chart. Stop Loss: Conservative Stop Loss: Below the key demand zone on the 4-hour chart, allowing room for price fluctuations while still protecting the position. Aggressive Stop Loss: Tighter, just below the most recent low, providing a higher risk-reward ratio but with less room for market noise.
Long
by Wiiso
2
EURGBP:More Selling Is Indicated Next-week. Long positions soon. An easy trend following Short of EURGBP, forget the complexities of for-example trading Gold, this one was 'in the bag' as a Short all week. Just pull up a 4 hour chart and it looks so easy! Further Short-selling I think next week of EURGBP but if you take a look at the monthly-chart below you will see where the 200EMA-Monthly has supported price previously and lots of historical buying from Order-blocks from 0.8250 to 0.8316. So a Short from current price 0.8377 should work well but I think buying accumulation from 0.8316 - 0.8250 and I think before long EURGBP which is severely oversold even on a weekly & monthly-timeframe, will get a bounce in price - but for how long? Sellers could move back-in very quickly if the EUR does not bounce back with strength - Sellers would next time Short the EUR through and south of the monthly 200EMA.
Long
by Easy_Explosive_Trading