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EURGBP trade ideas

EURGBP - following the trend (down)Well, this one says it all. Why complicate things when the market is saying it is simple? To me, this one seems clear (now, at this time, today! No crystal balls here). - Downward channel with good top nd medium levels, missing well defined two separated price points for a clear support line. - Clear and strong reaction to resistance last week. - Price consolidated for quite a number of hours and seems to be breaking out in the 1H chart. Potential move to 0.823 deserves an 8 on my EP scale. NB: my EB scale is just a personal 1 to 10 conviction rate of my edge in each trade
Short
by Taguspt
EUR/GBP - Monthly OutlookThis in my own opinion is one of my strongest Monthly Outlooks so far. Let me explain HTF - This chart can how a very strong fast Bullish push towards the Upside ALTHOUGH, HTF's do suggest Bearish movements. Sells in this market are currently proffered due to the Monthly time line being Bearish. On the weekly and the Daily we are waiting for price to fall a bit before continuing this bullish leg. Higher TF's suggest this pullback could be part of a correctional stage of Elliot's wave. Im looking for price to return into the 50% range on the Fib to fall into a discount stage before looking to buy. Due to recent Price action there isnt a huge amount of information. We have two possible buy locations marked out, we also have our OTE zone marked out that is between those two entry models. Lower Timeframes here so far are pretty basic. I expect price in the lower timeframes to give us a bit more clarity further into the month when price returns into the HTF Imbalance which may give us a little bit of choppy price action. This may help us determine some entries without the guess work currently other than an OTE zone and two Demand zones. I will keep this Outlook Update further into this trading month. Goodluck to the traders that follow.
by jamesibartram
EUR/GBPA **falling wedge** is a bullish chart pattern that forms as the price moves between two downward-sloping, converging trendlines. It indicates weakening bearish momentum and often precedes an upward breakout. The breakout, confirmed by a price move above the upper trendline (often with increased volume), signals a potential bullish reversal or continuation. The price target is typically calculated by adding the height of the wedge to the breakout point. While commonly bullish, traders should confirm the breakout before acting.
Long
by B9A-88652-NisarAhmad
EUR/GBP: PAT + VPA 11/2/2024Good morning, I will be closely observing the EUR/GBP currency pair on a daily basis, as I expect a bullish pullback or reversal to materialize in the forthcoming weeks. - 1W / Weekly Analysis: The market has recently dipped to a low of 0.839, with current support established at 0.832. The price has tested the 0.832 level multiple times without breaching it, suggesting a diminished appetite for selling at this juncture. Additionally, the presence of significant wicks accompanied by relatively smaller bodies may indicate a potential selling climax. - 1D / Daily Analysis: The daily time frame reveals the formation of a double bottom pattern at the weekly support level of 0.0832. Presently, the price is retesting the recent swing high of 0.84, which represents the latest peak. The price has demonstrated its capacity to remain above the 0.84 threshold, and I anticipate a continued upward movement towards 0.846 in the upcoming weeks. OANDA:EURGBP XETR:DAX TVC:BXY ThePipAssassin
Long
by ThePipAssassin
1
EURGBP - Short SetupMy main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels. In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level lower. But to take more statistically probable trades we should wait for some type of lower timeframe confirmation, and in this case we can notice sign of weakness (reaching the middle of the range), so potentially there is a higher probability to see price lower. Your success is determined solely by your ability to consistently follow the same principles.
Short
by Maks_Klimenko
Could the price drop from here?EUR/GBP is rising towards the pivot which has been identified as a pullback resistance and could drop to the 1st support which is a pullback support. Pivot: 0.8434 1st Support: 0.8391 1st Resistance: 0.8473 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.
Short
by ICmarkets
Euro-pound’s upward momentum seems to be decliningConsidering monetary policy alone, it seems questionable whether euro-pound’s recent strong gains are sustainable since the current difference in rates of 1.75% in favour of the pound probably won’t shrink more than 0.2 or 0.3% this year. That said, sentiment on the pound has deteriorated markedly in recent weeks as the British government’s borrowing has accelerated, inflation in the UK declined and the economy was overall stagnant in the third quarter of 2024. A gain of more than 1.5p by EURGBP in only about a fortnight is quite unusual. 84.5p was the area of the high at the very end of October last year, so this seems to be more established now as a resistance with several fairly large wicks over the last several periods. The 23.6% monthly Fibonacci retracement is a long way off at around 89p. If there’s a break above the current area, last summer’s highs around 85.5p or maybe slightly higher would seem to be more realistic for the near future. Neither the 200 SMA nor the 38.2% Fibo gave notable resistance earlier this month, so it’s questionable how strong they might be as supports. A lot depends on the ECB’s press conference and preliminary inflation from the eurozone next week. This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
Sell opportunityEUR/GBP Short Signal Entry Price: 0.84492 Target Price: 0.83277 (-1.44%) Stop Loss: 0.84781 (-0.34%) Risk/Reward Ratio: 4.2 Analysis: Technical Indicators: The price is consolidating below the resistance level of 0.84781, indicating potential rejection. EMA (252) and EMA (756) suggest a bearish trend in the medium term. Volume Profile: A high-volume node around the entry area strengthens the case for a short trade, as it represents significant price action. Setup: Downside target aligns with a strong support level around 0.83277, where buyers are expected to re-enter. The tight stop-loss ensures limited risk with an excellent risk/reward ratio. Context: Fundamental pressure on the Euro and a relatively stronger GBP may drive the price lower in the short term.
Short
by GODOCM
EUR/GBP at Critical Resistance – Major Move Incoming?What’s great everyone!? Mr. Blue Ocean FX here, breaking down EUR/GBP with an in-depth analysis you don’t want to miss. Starting from the higher timeframes, we’ve identified a major trendline resistance dating back to January 2023, which has been tested multiple times and is now being challenged again. After a massive impulse move from the 0.8275 area in late December, price has surged to the current levels around 0.8472, but signs of weakness are starting to emerge. Looking closer at the daily timeframe, we’ve seen a clear rejection off the trendline with significant bearish volume stepping in yesterday—indicating strong selling pressure after a liquidity grab above 0.8444. With a confirmed daily close below 0.8434, we’re now eyeing potential downside targets. Dropping down to the H1 timeframe, we’re observing a lower high formation, which could signal a continuation lower. I’ve already entered this trade with a high-risk, high-reward approach, placing stops above the recent high and targeting multiple liquidity areas below. Key levels to watch: • First target: 0.8433, sweeping liquidity. • Next: 0.8413 (double bottom) and ultimately 0.8335 if momentum continues. If we break below key support at 0.8410, this could trigger a much larger drop into untested levels from past price action, potentially targeting the 0.8146 area. The next few candles will be crucial—will EUR/GBP hold this level or melt down further? Stay tuned and let’s see how it plays out! If you’re finding value in these breakdowns, make sure to boost, share, and comment with your thoughts. Let’s make some moves!
Short
by BlueOceanFxAcademy
EURGBP Will Go Lower From Resistance! Short! Here is our detailed technical review for EURGBP. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.845. Considering the today's price action, probabilities will be high to see a movement to 0.835. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1