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EURGBP trade ideas

EURGBP - Bearish ReversalHello traders EURGBP has been slowly grinding up since 9 January with there being a trendline holding this slight uptrend. But it broke out of the trendline last week and it retested it. The ideal entry would have been on the retest but let's hope this 4H fvg gets filled then price goes down. Furthermore, the rsi has been making lower lows while price was making higher highs showing bearishness. Add to this that this setup is forming on a daily resistance zone as per the chart.
Short
by The_Worldy
EUR/GBP Bearish Momentum – Eyes on Support Zone!📊 EUR/GBP Daily Chart Analysis (28th Jan 2025) 🔹 Overview: Pair: EUR/GBP Current Price: 0.83855 📉 (-0.10%) Key Indicators: 200 EMA (Red Line): 0.84129 (Price is below the EMA, indicating bearish sentiment) Resistance Zone (🟠 Orange Box): ~0.84200 - 0.84400 Support Zone (🟢 Green Box): ~0.83200 - 0.83400 🔻 Bearish Outlook: Price recently rejected the resistance zone and started declining. It is now trading below the 200 EMA, suggesting potential further downside. Next Target: The support zone (~0.83200 - 0.83400) is likely the next major level. 📉 Possible Scenarios: 1️⃣ Bearish Continuation ⬇️ If the price maintains momentum, it may head toward the support zone (~0.83200). A break below support could trigger further downside. 2️⃣ Bullish Rebound 🔄 If the price finds strong buying interest at support, a rebound toward the resistance (~0.84200) is possible. A breakout above 200 EMA could shift momentum back to bullish. 🎯 Trading Considerations: Short Opportunity: Below 0.83800, targeting 0.83400. Long Opportunity: If support holds around 0.83200, aiming for a move back to resistance. Breakout Watch: A move above 0.84200 could trigger bullish momentum. 🔥 Conclusion: Currently, the trend is bearish, and price action suggests further downside toward the support zone. Keep an eye on price behavior around 0.83400 for potential reactions.
by MrStellanSight
EUR/GBP Collapses Bearish Breakout SetupThis chart shows a short trade setup based on the price action and trendline analysis of the EUR/GBP pair on the 2-hour timeframe. The price was moving within an ascending channel, defined by two parallel white trendlines. The ascending channel suggests a temporary bullish trend where the price consistently made higher highs and higher lows. At the top of the channel, the price experienced resistance, which led to a breakdown below the lower trendline. This breakdown signals a potential reversal of the bullish trend and marks the start of bearish momentum. The break of the lower trendline is the key signal for the short entry. The breakdown also aligns with a shift in market sentiment, as the price failed to maintain its position within the channel. The sell-off that followed confirmed the validity of the breakout. The price is now trending downward toward a lower level, which could act as a support area. The key levels to watch include the recent breakout point, which could act as resistance if the price attempts a pullback, and the lower support level near 0.82856. This support level aligns with a previous price range and serves as the potential target for the short position. The descending movement following the channel break suggests strong selling pressure. To confirm the continuation of the bearish trend, the price should not re-enter the ascending channel. A retest of the lower trendline could provide further confirmation of the breakdown, while a failure to hold below it could invalidate the bearish bias. This setup reflects a clear trend reversal strategy focusing on trading the breakout of an ascending pattern.
Short
by wolfchemist
1
EURGBP - Bearish Setup at Key ResistanceThe EURGBP pair is approaching a notable supply zone, where sellers have previously regained control and driven prices lower. This area has historically acted as resistance, suggesting the potential for bearish continuation. A confirmation of selling pressure, such as a bearish engulfing pattern or multiple rejection wicks at the resistance level, would increase the likelihood of a downward move. If the selling momentum materializes, the price could target the 0.83586 level. What are your thoughts on this outlook?
Short
by TrendDiva
EUR RALLY ON ECB MEETING?Trading Plan for ECB Rate Decision 1. BASELINE 📊 - Market Expectations for Interest Rates: The market is anticipating a rate cut by the ECB, with a forecasted main refinancing rate of **2.90%** down from **3.15%**. The STIR markets have priced in a 50 bps cut, suggesting strong expectations for a reduction. - Upcoming Event Predictions: Consensus is that the ECB will cut rates by either 25 bps or 50 bps to stimulate the economy due to lower inflation and weaker-than-expected growth. - Trend Analysis: The ECB has been lowering rates since last year in response to economic challenges. This trend is likely to continue. - Pre-positioning Observation: The flat movement in the proprietary euro index suggests cautious pre-positioning, indicating that significant moves might occur post-announcement. 2. SURPRISE⚡ : - 25 bps Cut: If the ECB cuts rates by **25 bps**, it could lead to an upside in the euro due to repricing, as the market has priced in a 50 bps cut. - 50 bps Cut: If the ECB cuts rates by **50 bps**, it might be seen as expected, leading to a less significant market reaction. 3. BIGGER PICTURE 🌐 - Short-term Play: If the ECB cuts rates by **25 bps**, initiate a short-term intraday trade on the predictable directional volatility, taking advantage of the potential upside in the euro due to repricing. - Long-term Play: The broader expectations for future interest rates remain unchanged, suggesting that neither scenario will alter the bigger picture significantly.
Long
by Midas_Macro
EURGBP Will Go Up From Support! Long! Please, check our technical outlook for EURGBP. Time Frame: 45m Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 0.837. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.839 level soon. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Falling towards 50% Fibonacci support?EUR/GBP is falling towards the pivot which has been identified as an overlap support and could bounce to the pullback resistance. Pivot: 0.83719 1st Support: 0.83258 1st Resistance: 0.84121 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.
Long
by ICmarkets
1
EUR/GBP pair has broken a previous support zoneIt looks like the EUR/GBP pair has broken a previous support zone, turning it into a resistance zone. After this break, the price is now making a bullish correction to retest that area. Trade Setup: • Wait for the last low (marked by the red line) to be broken clearly by a strong bearish engulfing candle, confirming the continuation of the downtrend. • Once this condition is met, enter a sell trade. • The stop-loss should be placed above the new resistance zone (previous support) to avoid false breakouts. • The target levels are based on the next key support zones, as shown in the chart. This approach ensures a more precise entry, reducing risk and increasing the probability of a successful trade.
Short
by ozix_1