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Euro / British Pound

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EURGBP trade ideas

Long trade Trading Plan Currency Pair: GBP/USD Entry Price: 0.84644 Profit Level: 0.84923 (0.33%) Stop Level: 0.84595 (0.06%) Risk to Reward Ratio (RR): 5.94 Time Frame: Tokyo to London Session (3:00 PM) Direction: Buy (Long Position) Context and Market News Market Sentiment: The pound briefly edged up on Friday after UK retail sales data beat expectations for May, suggesting some resilience in the British consumer market. However, this came a day after the Bank of England signaled a possible rate cut in August. News Driver: Positive retail sales data provided some support for the pound, despite the dovish outlook from the Bank of England.
Long
by davidjulien369
EUR/GBP potential shortContext: • Market broke through monthly lows and stayed below • Built a weekly FVG down • On the daily, market builds a creeping trend into the weekly FVG • The weekly FVG is supported by lower timeframe FVGs on the daily and 4h chart Idea: • Look for shorts in the area 0.8465 to 0.85 (i.e. lower bound of weekly FVG up to las broken low) • Preferred entry timeframe: 4h Caution / Scenario invalidated: • Caution if market closes above 0.8484 • If market goes into 0.85, a sharp reversal should occur • If the market accepts higher prices and builds up a bullish dynamic, returning into its previous range, I skip this one Target: • Low around 0.84 Stop: • Above your entry signal • Last resort: 0.8541 Watch for your CRV Please feel free to comment!
Short
by MichaelBw
EURGBP : INVERTED HEAD AND SHOULDERS ?- The market is trading below a bearish trendline since beginning of May 2024 ; the mid-term trend is bearish for EURGBP. - Since the impact over 0.8397, the market has registered an increased buying pressure, preventing prices from dipping further. This slow trading mind shift has led the market into what looks like a potential inverted Head & Shoulders bullish reversal pattern. Moving averages are reversing to the upside, even if a bullish cross remains yet to be seen. The MACD indicator has already shown a bullish break-out of its own bearish trendline. - This is seen as a potential bullish reversal situation. Indeed, the rounding bottom/H&S usually displays a fading interest from short sellers, leading to the end of a bearish trend. In addition, this scenario is also supported by the fact more and more traders now await for dovish moves to come from the BoE, especially after they have been disappointed following the last monetary decision. BoE Governor recently said cutting rates prior to the coming general elections in the UK wasn't a right timing, which opens the doors to a start of the next monetary easing cycle for the coming monetary meetings. This scenario would significantly decrease appetite for the Pound Sterling, leading EURGP to a new mid to long-term bullish trend. Pierre Veyret, Technical Analyst at ActivTrades. The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Long
by ActivTrades
Bounce for EURGBP but next moves might depend on dataThe euro is down around 1.6% against the pound in 2024 so far with most of that decline within the last month. June’s PMIs were mostly disappointing, raising the probability of another cut by the European Central Bank (‘the ECB’) later this year. The ECB was among the first major central banks to call for a cut at its meeting earlier this month. The bounce since 14 June seems to be a technical movement primarily. Momentum has been fairly low and there hasn’t been a significant uptick in volume although ATR has reached a new high. The 38.2% monthly Fibonacci retracement around 83.7p is likely to be a strong support if there’s another move lower. To the upside, each of the 20, 50, 100 and eventually 200 SMAs might be important as dynamic resistance. Germany releases IFO Business Climate and GfK consumer confidence on 24 and 26 June respectively. Either or both of these could drive volatility. Preliminary French inflation on 28 June is less important but if all of these releases are positive there could be more gains for the euro against the pound. This is my personal opinion which does not represent the opinions of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
EUR/GBP BUY at market (.8450)2 weeks ago the EUR/GBP opened with a market gap. Those of you who read my previous posts on this subject will know that I believe gaps in the market are ALWAYS filled. True, this can be weeks or even months but most commonly gaps are filled within 48 hours. Last week downward pressure prevented the EUR gaining on the GBP and the gap remained. I was moderately confident that the gap would be filled this week and I've had muliple LONG positions on EUR/GBP but every trade hit headwinds and were closed (at a profit). This morning we saw the EUR decline with the weak German and French manufacturing and Services PMI but this was followed by weak GBP Flash Manufacturing and Servicing PMI and a look at the H1 chart will reveal that this has left this pair in a definitive northerly direction. I've markeed the approximate path of the 200 EMA on the chart as, as can be seen, this was falling, then turned level and is now poised to head north. At 14:45 (45 minutes) we have trhe USD Flash manufacturing and Services PMI. I don't expect the release to have much impact on this pair. I'm happy to be LONG on this pair in anticipation of the gap being closed sometime next week.
Long
by forextraplaces
EUR/GBP Poised for Seasonal Upswing as July BeginsAs July kicks off, the EUR/GBP pair is entering a period of seasonal strength, supported by historical trends and favorable technical indicators. Historically, EUR/GBP has shown a tendency to perform well during this time of year, and this seasonality is further bolstered by the latest Commitment of Traders (COT) report. The report indicates that the Euro is currently the preferred asset among institutional investors, often referred to as "smart money." Recently, the EUR/GBP pair rebounded from the 0.8400 support level, a critical area that has provided a strong base for price action. This rebound, coupled with the seasonal patterns and smart money positioning, presents a compelling case for a bullish setup. Given these factors, we are now looking for opportunities to enter long positions on the EUR/GBP pair, anticipating continued strength in the Euro as the month progresses.
Long
by FOREXN1
1
EURGBP Resistance Breakout At 0.84645. 21.06.2024EURGBP Resistance Breakout: Observed on 15-min chart at 0.84645. Upside Targets: If breakout holds: Potential rise to 0.84824. Above 0.84824: Potential climb to 0.85052. Downside Risk: If breakout fails: Potential drop to 0.84504. Below 0.84504: Potential decline to 0.84394. Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
Long
by Stuart_Cowell
1
EURGBP ready to reverse the trendEURGBP ready to reverse the trend EURGBP just completed an inverse head and shoulders pattern. After the BOE decided to keep rates unchanged again for the seventh time, the GBP began to weaken. On the other hand, CPI data is cooling showing signs of improvement. Technical analysis: If the price manages to rise above the pattern, it will increase the chances of continuing the upward movement. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
2
EURGBP Will Go Up! Buy! Please, check our technical outlook for EURGBP. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 0.843. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 0.852 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. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
BUY STOP at .8455 EUR/GBP (now .8443)At 12:00 today (25 minutes) we shall know what the BOE intend to do about the current round of interest rates. The market expectation is 0 - 2 - 7. The first digit is those MPC members who voted to increase rates (no-one expects this to be other than zero). The second digit is those MPC members who voted for a decrease in rates (the last month saw 2 members vote for a decrease against market expectation) The third digit reflects the opinion of MPC members who voted to leave rates unchanged. The most likely print will be 0 - 2- 7 and rates to be held at 5.5% but if we see 0 - 3 - 6 or even 0 - 4 - 5 and we see a rate cut then we can expect a massive move in GBP. In theory a vote to decrease interest rates and/or a rate cut should be GBP NEGATIVE but this is not guaranteed. The path of EUR/GBP will be one of 2 ways (see chart) on release of the numbers. If the market interpret the news as GBP positive (BULLISH) we can expect EUR/GBP to decline rapidly to at least WS1 support at .8400 but this support could easily break. If the market see the news as GBP negative then I have a BUY STOP placed at .8455 which is a few pips above the 200 EMA on H1. If this trade triggers then we can expect to see the gap that formed a week last open to close. However the data comes out at 12:00 be ready for some rapid price moves across all GBP pairs. Anyone with SHORT or LONG GBP trades will need to tighten stops but remember, spreads will increase by as much as 10 pips, possibly more as the news is announced.
Long
by forextraplaces