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Euro / British Pound

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EURGBP trade ideas

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 Umlingo
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 0.618
Long
by SohailChaudhary
1
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 FXOpen
2
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.
Short
by Umlingo
Eurgbp hello everyone its been 3 months almost for this pair going bearish... last week we see a big spike in price, breaking the resistance trendline.. price can test 200ma and then do correction as shown.. after correction price can continue making uptrend... however be aware the weekly rsi is still below 50 rsi.. so look for proper full back and breakout of structure and candle.. daily rsi spike above 50, so bullish momentum can stay strong this week.. for proper uptrend the 20,50ma need to cross 200ma... good luck .. trade safely
Long
by baigxy