EURGBP is BearishA bearish RSI divergence seems to be at play here, as previous higher low is broken and the bullish momentum seems to be fading out. If the bears retain control then we can expect further downside in price action as per Dow theory. Targets are mentioned on the chart. Shortby Fahad-Rafique1
EURGBP Bearish (4H Div, Dow BOS, Falling Trend)EURGBP showing signs of bearish momentum with 4H bearish Divergence and DOW Break of Structure( BOS). Price actions also broke the falling trendline that shows price will be in downward bearish momentum. There is support area for the price, where price might bounce back to upward direction. If you are not comfortable with it, then sell half of the position and break even the SL. What do you think, will it work? Shortby halian2k4
Downward trend It is expected that after some fluctuation, the continuation of the downward trend will be formed If the price crosses the resistance levels, the continuation of the downward trend will be canceled Shortby STPFOREX2
Short to LVL .83500OANDA:EURGBP Hi everyone. Look for shorts. Here is my outlook on price action. 4HR/Daily/W is bearish with LH and LL. Last week ended on the Daily with a massive star doji under major support lvl. Price definitely formed a H&S pattern and the neckline was broken on 4HR and Daily. Neckline was a very reliable support zone with over 20 touches. So to have this price lvl broken is a huge sign that bears are in control. As you can see we also have a bear flag that has formed which is another sign price might continue to fall. I will be looking to short for a 3R profit down to the next major support zone of .83500 once we have break of the bear flag. Please keep in mind that news is looking ok for EUR so price good definitely push back above the support zone later in the week. Have a good week in trading everyone. Remember trading always carries risk. Shortby RobertTMFXUpdated 6614
EURGBP ShortEURGBP made several attempts to break through higher today but failed. Short position with Risk Reward 2 an more.Shortby EdgezoneUpdated 3
EURGBP AnalysisEURGBP is in bullish trend with bearish divergence. If it breaks the last LH it will most probably continue its bearish trend.Shortby salmanhussainali2
[EURGBP] Anticipated shortOn this forex asset, I want to play the pullback short. Here is how I first want to enter and will add then if the setup works. Let's see for another entry point after the TLB. Great Trade !Shortby ArnoSG116
EURGBP: Pullback From Resistance 🇪🇺🇬🇧 There is a high chance that EURGBP will pullback from a key intraday resistance. I see a cup & handle pattern on that and a confirmed breakout of its neckline. Goals: 0.8595 / 0.8585 ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader338
EURGBP Update EURGBP on the 4hr chart is mapping out a P wave. This is a Bullish Continuation Pattern. The problem is, Price and Volume are at Divergence. To breakout , there needs to be considerable Volume. The last 4 hr candle , with a upper shadow breaking the High on last Monday , was on low volume. The RSI in consolidation continues to be Bearish with regular divergence. The P wave is an inducement for traders to go long, but this can't be right when Volume and Momentum are against it. by Umlingo1
EURGBP Long PositionSeasonality Analysis: Historical seasonality trends indicate a bullish pattern for EURGBP during this period. This suggests that the currency pair tends to rise during this time of the year. Trendline Break: A break above a significant trendline indicates a shift in market sentiment from bearish to bullish. This suggests that the buyers are gaining control and the price is likely to continue higher. Price Printing Higher Highs (HH): The price making higher highs is a confirmation of an uptrend, indicating strong buying interest. Enter a long position on EURGBP at a retracement to a key support level, such as a previous resistance turned support, a Fibonacci retracement level 0.618Longby SohailChaudhary114
Long trade Fri 4th Aug 24 1.00 pm Toyko to LND Session PM Buyside trade Entry 0.84922 Profit level 0.87089 (2.55%) Stop level 0.84866 (0.07%) RR 38.7 (15min TF) (Day TF) Longby davidjulien369Updated 0
Big upside for EURGBPThe EURGBP sits just under the resistance level of 0.8625 If the GBPUSD weakens, this could drive the EURGBP higher. Look for price to break above the resistance, and the 0.8645 price level, with the next key resistance at 0.8755 Possible hesitation at 0.87 as a round number level Longby JinDao_Tai1
EURGBP-SELL strartegy 4-hourly Heikin AshiThe pair is overbought, and further we have a potential false bull flag pattern on hand. Strategy SELL @ 0.8585 - 0.8630 and take profit @ 0.8430 for now. SL according your risk appetite. Shortby peterbokma6
EURGBP - Looking To Buy Pullbacks In The Short TermH4 - Bullish trend pattern Currently it looks like a pullback is happening Until the strong support zone holds my short term view remains bullish here.Longby VladimirRibakov1
Market Analysis: EUR/GBP Gains StrengthMarket Analysis: EUR/GBP Gains Strength EUR/GBP is rising and might climb above the 0.8620 resistance. Important Takeaways for EUR/GBP Analysis Today - EUR/GBP is gaining pace and trading above the 0.8500 zone. - There is a short-term contracting triangle forming with support near 0.8570 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a decent increase from the 0.8415 zone. The Euro traded above the 0.8465 resistance level to enter a positive zone against the British Pound. The pair settled above the 50-hour simple moving average and 0.8515. The pair traded as high as 0.8618 before there was a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the 0.8416 swing low to the 0.8618 high. However, the pair is stable above 0.8550. There is also a short-term contracting triangle forming with support near 0.8570. The next major support is near the 50% Fib retracement level of the upward move from the 0.8416 swing low to the 0.8618 high at 0.8515. A downside break below the 0.8515 support might call for more downsides. In the stated case, the pair could drop toward the 0.8465 support level. Any more losses might call for an extended drop toward the 0.8415 pivot zone. The EUR/GBP chart suggests that the pair is facing resistance near the 0.8620 zone. A close above the 0.8620 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8650. Any more gains might send the pair toward the 0.8685 level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. by FXOpen228
Correction It is expected that the correction process will move according to the specified path. The price may correct to the green support range Shortby STPFOREX1
EURGBP Bullish EURGBP making bullish cup & handle no current divergence previous divergence seems played already buystop above tip of handle SL below hump of cupLongby fay_pasai1
EURGBP Simple Trade Plans Consistent Lower highs/lows has brought the EURGBP out of a range that lasted a reasonably long time. Areas exist above and below. Any significant push would take us beyond resistance and into higher levels of Price Action. Levels labelled.by WillSebastian3
possible shortlooks a possible retracement trade after that huge bullish push. im taking the short 80pip Shortby bossmadep88224
EURGBP: Dovish BoE and Potential UpsidesHey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.85800 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.85800 support and resistance area. We would also consider the current dovish stance from the Bank of England, that should trigger further GBP weakness against EURO. Trade safe, Joe.Longby JoeChampion3
EURGBP Double Top at SupplyWe can see the preceding Rally to the Supply Zone. First Peak - has formed .8619. The volume was a High VSA candle ( Yellow). When a double top forms the intervening price action has progressively lower volume. As can be seen in this pair. Second Peak - is forming. It should form with lower volume. As it is here with an Average VSA candle (Green). This shows buyer exhaustion and the potential for sellers to take control and price to move down. It would be nice if this was associated with a liquidity run to trap buyers above .8620. On a break to the downside, particularly the Neckline , there is likely to be higher volume Yellow or Red as the smart money comes into play. Short term Bias is now Bearish, with a move to either the 200MA or further to the Demand Zone. Shortby Umlingo4
EURGBP: Pullback From Key Level 🇪🇺🇬🇧 I think that EURGBP may retrace from a key daily horizontal resistance. After its test, the pair broke and closed below a support line of a rising parallel channel on an hourly time frame. The market may reach 0.8544 level soon. ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader3316