EURGBP TRADES AT 0.85781EURGBP currently trade at 0.85781 level. Price May decline from that resistance level. I anticipate a strong sell off that zone.
EURGBP trade ideas
EURGBP BULLISH REVERSAL EXPECTED SOON As we approach the end of the month a bullish reversal is expected on this currency as in the past week we have seen the lowest low weakening To produce an Equal low meaning the bears have exhausted the momentum on the downside and that the Bulls are stepping in and more buy orders are being injected we need to hit the nearest supply zone to produce enough liquidity to fuel the currency on a bearish trajectory expecting after the choch next week we might see a reversal and More bulls coming in and getting the price @0.84785, for now, am just going to take the 1st tp as await the next move.
The next 2nd tp for aggressive traders would aim @0.84600 sl set your own preference
EUR/GBP Finds Support at 0.8400: Potential for a Bullish SetupAs anticipated, the EUR/GBP currency pair has found support around the 0.8400 level, aligning with our previous forecasts. This area has proven to be a strong demand zone, where buyers seem poised to initiate a retracement, potentially driving the price higher.
Currently, the EUR/GBP pair remains within a consolidation phase. However, market sentiment indicates that buyers are preparing to step in, suggesting a possible upward movement. The current market conditions also coincide with a seasonal trend, historically known to favor an increase in EUR/GBP value over the coming weeks.
Our comprehensive analysis of supply and demand dynamics supports the outlook for a bullish retracement. We are particularly focused on identifying long position opportunities, as the demand area around 0.8400 demonstrates significant support for the pair. Traders should watch for confirming signals of a breakout from the consolidation phase, which could mark the beginning of a sustained upward trend.
In conclusion, the EUR/GBP is showing promising signs of a rebound from its current support level. With the convergence of technical analysis and seasonal factors, we are optimistic about the potential for a bullish retracement. Monitoring the pair closely for entry points in long positions could yield favorable trading opportunities in the near future.
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EURGBP ProjectionOn the LTF we have a confirmed break of Market Structure. The impulsive Rally of
the last trading day has seen price break 1.8500 and establish a higher high.
Looking next week for this pair to consolidate between .8480 - .8520,
before a move up to the Supply Zone at .8640. This should be confirmed with RSI moving out of
the OB zone and into lower levels (50-70)
The HTF Market Structure is Bearish and intact. With this in mind, the move back to Supply would simply be a correction, before a larger move down in line with market structure.
The possibility of correction...Hello friends,
According to the chart, I expect a correction to the specified range.
Let's see what happens!
what is your opinion?
Good luck.
# Let's look simply
Uptrend It is expected that the upward trend will advance up to the ceiling of the channelization, then there will be a possibility of changing the trend and starting the corrective trend.
EUR_GBP LOCAL SHORT|
✅EUR_GBP is retesting a resistance level of 0.8540
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
SHORT🔥
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eurgbpon the 3 hour timeframe price has taken out the previous candle stick range high and closed below it and now price it headed for the major CRL which is the SELL-SIDE LIQUIDITY.
EURGBP - All set for a bullish breakout from falling wedgeEURGBP seems to be on course for a bullish break out from falling wedge pattern on daily time frame. The formation of bullish divergence of MACD lends further strength to bullish forecast for coming days.
Eurgbp Getting Ready For Solid bullish Rally 500 Pips Conflicts In Middle East Effecting Global Stocks Markets And Currencies Badly As Per The Chart It Will Effect Eur Gbp Too In Coming Days
Eurgbp Looking Bullish For Midterm In 3 Days Timeframe Recently Breaks Crucial Horizontal Resistance And Testing Falling Wedge s Trendline Too Incase Of Falling Wedge Breakout expecting 500 Pips Bullish Wave In Coming Days
EURGBP longhello everyone, price has been bearish and reached the main daily weekly support level... looking in 4hr tf, the price made new high and new high low... price is trending to bullish direction... price is not showing a strong bearish move, therefore price is liquidating and may become more bullish.. price may pull back to correction point 1 or 2.. however price is getting closer to 200sma... once price crosses 200sma price will remain bullish... at this point there is no confirmation as price is still ranging..
Double Bottom w/ Break of Confirmation!! - EGHere I have EUR/GBP on the Daily chart!
The Lows @ .83972 & .83827 seem to have found enough Support in this Zone since its last visit back in the summer of 2022!
After BOE decided to cut their Interest Rates to 5% on Thursday, we see the end of the week gave us quite a Bullish close above the Lower High @ .8490 CONFIRMING the Double Bottom Reversal Pattern!!
With the:
-Divergence of Price vs RSI @ Level of Support
-Break of Structure from LL to HH
-and Price on RSI Above 50
*All that's left is to wait for Price to retrace back down to the .8490 area where the Break of Confirmation of Pattern happened for some potential Buy Opportunities!!
EURGBP BullishEURGBP has formed a series of higher highs and higher lows with no divergence which means that trend is likely to continue towards upside. The EUR index is currently bullish and GBP index is bearish.
Long EURGBPLong EURGBP
1. Market Analysis:
Asset: EURGBP
Timeframe: Daily
Pattern: Bullish divergence
Sentiments: Bullish
Fundamentals: Bullish
2. Entry Criteria:
Bullish Divergence: Confirm bullish divergence on the daily timeframe using indicators like RSI or MACD. Bullish divergence occurs when the price forms lower lows, but the indicator forms higher lows, suggesting a potential reversal.
Bullish Sentiment and Fundamentals: Ensure that the overall market sentiment and fundamental analysis align with a bullish outlook for EURGBP.
3. Trade Setup:
Entry Point: Enter a long position at the close of a bullish candlestick pattern that confirms the divergence. Look for additional confirmation from fundamental news or sentiment shifts.
Stop-Loss: Set the stop-loss order below the recent swing low to limit potential losses if the price moves against your position. Ensure that the stop-loss level is at a logical support level to avoid being stopped out by normal market fluctuations.
Take-Profit: Determine your take-profit target based on key resistance levels or a favorable risk-reward ratio. Consider using a risk-reward ratio of at least 1:2 to ensure that potential profits outweigh potential losses.
4. Risk Management:
Position Size: Calculate your position size based on your risk tolerance and the distance between your entry point and stop-loss level. Ensure that you only risk a predetermined percentage of your trading capital per trade (e.g., 1-2%).
Risk-Reward Ratio: Aim for a risk-reward ratio of at least 1:2 or higher. This means if your stop-loss is 50 pips below your entry, your take-profit should be at least 100 pips above your entry.
5. Additional Confirmation:
Volume Analysis: Check for an increase in volume to confirm the validity of the bullish divergence and the potential for a strong upward move.
Support and Resistance: Ensure that the trade aligns with key support and resistance levels on higher timeframes (e.g., weekly).
6. Trade Execution:
Place Orders: Set your buy order, stop-loss, and take-profit levels according to the above criteria.
Monitor the Trade: Keep an eye on the trade to manage it effectively. Adjust the stop-loss to break even or trail it as the trade progresses in your favor if necessary.
7. Review and Adjust:
Post-Trade Analysis: After the trade is closed, review the outcome to learn from the trade. Evaluate what worked well and what could be improved for future trades.
EURGBP LongTitle: Long EURGBP Based on Bullish Divergence on Daily and 1-hour
Trade Setup:
- Asset: EURGBP
- Timeframes: Daily and 1-hour
- Entry: Buy at the close of a bullish candlestick pattern confirming divergence on the 1-hour chart
- Stop-Loss: Below the recent swing low on the 1-hour chart
- Take-Profit: Based on key resistance levels or a 1:2 risk-reward ratio
Analysis:
- Bullish divergence confirmed on both daily and 1-hour timeframes
- Volume supports potential bullish reversal
Trade Plan:
- Enter long position on 1-hour bullish confirmation
- Set stop-loss below recent 1-hour swing low
- Take profit at key resistance levels or using a 1:2 risk-reward ratio
- Risk 1-2% of trading capital
This trade plan aligns with technical analysis and provides a structured approach to capitalizing on the potential bullish reversal in EURGBP across multiple timeframes.
EURGBP: Short Trading Opportunity
EURGBP
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short EURGBP
Entry Point - 0.8507
Stop Loss - 0.8534
Take Profit - 0.8456
Our Risk - 1%
Start protection of your profits from lower levels
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eurgbp sell , Green lower boundary pressure levelThe white oscillation range falls below, the green oscillation range falls below, and continues to decline,
Potential BULLSPrice has formed what looks to be a bullish wedge (corrective structure), broke out of the structure and heading upstairs.
From our point of view, we think that this instrument is going up with the BULLS.
EUR/GBP Buy AnalysisTrade Idea: Buy EUR/GBP
Entry: 0.84957
1st take Profit: 0.84600
2nd Take Profit: 0.84186
Rationale:
Technical Analysis: EUR/GBP has shown strong resistance near the 0.8500 level, with recent price action indicating potential for an downward move.
Resistance Break: A breakout above recent resistance suggests bullish momentum could carry the pair towards the 0.85500 level.
Risk Management: Place a stop-loss according to your risk tolerance and trading strategy, ensuring potential losses are controlled.
Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The analysis provided is for informational purposes only and should not be considered as investment advice.
EURGBP Is Going Down! Sell!
Please, check our technical outlook for EURGBP.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 0.849.
The above observations make me that the market will inevitably achieve 0.846 level.
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.
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EURGBP Possible Bullish MovePrice created a CHoCH to the upside indicating a possible bullish move. Price heading to a buy zone for possible entry.
Remember: Risk management very important.
DeGRAM | EURGBP an ascending structure in the channelEURGBP is moving in an ascending channel between the trend lines.
The price has reached a level that has already become a reversal point twice.
We expect a rebound after a retest of the lower boundary of the channel.
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EURGBP 8/2/2024Revised Analysis: EUR/GBP
Market Outlook Shift:
Bias Change: Transitioned from a bearish to a bullish outlook. The shift indicates a potential for a deeper correction to the upside, suggesting that previous bearish expectations may no longer apply.
Counter-Trend Position: In a risk-off environment, this adjustment suggests a positioning against the prevailing trend, anticipating that the market will move upward despite broader risk aversion.
Current Price Action:
Upward Movement: The market is showing a clean upward trajectory, indicating that the bullish move is progressing as anticipated.
Setup Status: No immediate buying setup is present at the moment. This implies that while the move is clean, it’s essential to wait for a more precise entry point.
Invalidation Point:
Location: The invalidation point is set below a key accumulation resistance line and aligns with the 4H RJB block. This is a strong level for invalidation because it coincides with established technical barriers.
Significance: If the price falls below this level, it would invalidate the current bullish scenario and suggest a reevaluation of the bullish bias.
Action Plan:
Continuation Strategy:
Low Risk-to-Reward: With a favorable risk-to-reward ratio, holding onto buy positions remains justified. The distance to the invalidation point provides a manageable risk.
Monitoring: Keep an eye on price movements and key technical levels to confirm the continuation of the bullish trend.
Position Management:
Holding Buys: Continue to hold long positions while waiting for additional buying signals. Ensure to adjust stop-loss levels as needed based on the invalidation point and price action.
Future Setups:
Waiting for Confirmation: Watch for specific patterns or setups that would further validate the bullish trend. This may include price action signals or technical indicator alignments that reinforce the buying opportunity.
Summary:
You’ve correctly identified a bullish shift in the EUR/GBP market with a clean upward move in progress. While no immediate buying setup is present, holding long positions remains viable with a well-defined invalidation point below key resistance levels. Continue monitoring for further confirmations to adjust your strategy effectively.
