EURGBP trade ideas
EURGBP LONGLong opportunity currently brewing on the EURGBP pair. I'm expecting a correction one more time to the blue line and after that, we will see a strong push upwards.
EURGBP - BUYI have seen a divergent on W1, D1 and a clear falling wedge pattern on H4.
all these collided with the major support level @ 0.82511. However, the market may reach up to 0.82011 level, a liquidity grap area to stop out more SL before major shift in the trend direction.
my main bias for this pair EURGBP is to the up side only for the next coming months.
#RestandletthemarketworkforYOU!
Bearish momentum- Bearish flagOverall momentum is bearish, it has make a bearish flag. if Red line is break it will continue to bearish momentum
EURGBP - The weakness of the euro will end!?The EURGBP currency pair is below the EMA200 and EMA50 in the 4H timeframe and is moving in its descending channel. In case of breaking the resistance area, we can see the supply zone and resell in that zone with appropriate risk reward. A valid break of the drawn support area will provide us with the downward path of this currency pair to the level of 0.82400.
Following Donald Trump’s victory in the U.S. presidential election, the euro experienced a sharp decline. This drop was attributed to market reactions to the possibility of aggressive policies in areas such as trade, immigration, and finance.Past experiences have shown that such policies can significantly impact exchange rates.
It is anticipated that the U.S. tariff measures expected in early 2025 will play a crucial role in shaping the direction of exchange rates. The euro, particularly due to Europe’s significant trade surplus with the U.S., is highly vulnerable to these measures.
According to statistics, the U.S. trade deficit with the eurozone increased from $158 billion in 2019 to $196 billion by September 2024. This development could serve as motivation for U.S. policymakers to apply further pressure.
Another factor that might weaken the euro is the poor performance of eurozone countries in meeting NATO’s defense spending targets. Out of the eight countries that remain below the 2% defense spending threshold, seven are in the eurozone. This could provide Trump’s administration with justification for adopting stricter trade measures.
JP Morgan has forecasted that the European Central Bank (ECB) will cut interest rates by 50 basis points during its December 12 meeting. While the market assigns only a 20% probability to this reduction, JP Morgan believes that such a cut would not suffice to bolster the economy.
Data indicates that the preliminary estimate for overall consumer inflation dropped from 2.8% to 2.7%, while core inflation rose from 2% to 2.3%. Villeroy, a member of the ECB, dismissed these changes as insignificant.
In his speech, he stated: “We have good news; inflation is decreasing and moving toward our target. Therefore, it is likely that we can continue reducing interest rates.” He added, “We are confident in our projections and expect to achieve our inflation target, possibly in the first half of next year.”
Christine Lagarde, President of the ECB, in an article for The Economist, discussed how Europe’s savings can be transformed into investments, innovation, and growth. She highlighted that Europe faces numerous economic challenges and that directing savings toward productive investments is essential to stimulate growth.
Lagarde emphasized the need for a strong capital markets union in Europe to better allocate financial resources and improve access to capital for innovative companies. She also stressed the importance of structural reforms to enhance the business environment and encourage entrepreneurship.
She pointed to the role of coordinated fiscal and monetary policies in supporting sustainable and innovative investments and underscored the importance of cooperation among EU member states in achieving these objectives. Additionally, she called for the establishment of a stable and predictable legal and regulatory framework to boost investor confidence and drive economic growth.
A recent Cluster17 survey revealed that around 54% of French citizens want President Emmanuel Macron to resign and for early presidential elections to be held in 2025. The survey also showed strong public polarization regarding the collapse of the Barnier government, highlighting the inability of political parties to unite voters.
Political analyst Stéphane Fournier noted that these results increase pressure on Macron to appoint a new prime minister. The findings also reflect public dissatisfaction with the current political situation and the failure of parties to provide effective solutions to the ongoing crisis.
According to a recent Reuters survey of economists, 73 out of 75 economists predict that the ECB will cut the deposit rate by 0.25% during its December meeting. Two others anticipate a 0.5% cut. Moreover, 51 out of 67 economists expect the ECB to reduce the deposit rate to 2% or lower by the end of 2025. Notably, in a November survey, 43 out of 63 economists made the same prediction.
check the trendGiven the price behavior within the support range, an upward trend is expected to start and progress to the specified resistance range
Potential bearish reversal?EUR/GBP is rising towards the pivot which has been identified as an overlap resistance and could drop tot he pullback support.
Pivot: 0.8310
1st Support: 0.8267
1st Resistance: 0.8328
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EURGBP may enter into bullish phaseEURGBP may enter into bullish phase
In December 2024, EUR/GBP is poised for a bullish trend, driven by a combination of factors. Seasonally, the euro typically outperforms the pound until the third week of December, which aligns with the COT report showing non-commercial positions heavily favoring EUR over GBP. Endogenous factors reveal a slightly stronger outlook for the euro, with less negative sentiment compared to the pound, despite mixed fundamentals like weak ISM and CPI scores.
Exogenous factors suggest a neutral to slightly bearish backdrop for EUR/GBP, but seasonal strength and positioning trends likely counteract this. Upcoming events, such as the ECB's monetary policy decisions and eurozone PMI/GDP data, may reinforce EUR's strength if they signal resilience or hawkishness. Conversely, the pound faces potential pressure from weak UK CPI and Retail Sales data, along with dovish BoE commentary.
Overall, the early to mid-December period presents a strong bullish case for EUR/GBP, but caution is warranted in the final weeks as seasonal momentum fades.
TradeCityPro | EURGBP : Testing Weekly Range Support👋 Welcome to TradeCity Pro!
In this analysis, I’ll review the EURGBP forex pair, focusing on the daily timeframe.
📅 Daily Timeframe: Downtrend Near Weekly Support
The pair has been in a downward trend accompanied by deep retracements. Currently, it is moving along a descending trendline and has reached the 0.82711 support level.
🔍 The 0.82711 level represents the bottom of a weekly range that has been in place since 2020. At present, the price is oscillating near this crucial support.
✨ If the 40.17 level in RSI is broken, bearish momentum will increase, raising the probability of breaking the 0.82711 support. In such a case, the next support would be at 0.80934.
📈 If the price holds at this zone, the first long trigger is at 0.83901. However, this is considered a risky trigger. Personally, I prefer waiting for a higher low above this level to confirm a trend reversal.
🔼 The next long trigger is a breakout above 0.85129, which is a more reliable signal. The subsequent resistances are at 0.86142 and 0.87442.
🔑In my opinion, the price is likely to move upward from here as it has reached the bottom of a 4-year range, and market momentum is declining. For now, I anticipate the price will find support at this level and may attempt to break the range in the future.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Bearish drop?EUR?GBP is rising towards the resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.8307
Why we like it:
There is an overlap resistance level that aligns with the 38.2% Fibonacci retracement.
Stop loss: 0.8330
Why we like it:
There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement.
Take profit: 0.8260
Why we like it:
There is a pullback support level.
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EUR/GBP Teacup sell entryWe have a 4H fib Level where the price could react, we have as well a nice Teacup Setup. Liq will be grabbed to our entry and then we are reacting bearish in the best case scenario
EURGBP SHORTMarket structure bearish on HTFs 30
Entry at both Daily and Weekly AOi
Weekly Rejection at AOi
Previous Structure point Weekly
Daily Rejection at AOi
H4 EMA retest
H4 Candlestick rejection
Rejection from Previous structure
Levels 7.65
Entry 105%
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EURGBP What Next? BUY!
My dear friends,
Please, find my technical outlook for EURGBP below:
The instrument tests an important psychological level 0.8276
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.8316
Recommended Stop Loss - 0.8251
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
EURGBP Will Go Up From Support! Buy!
Here is our detailed technical review for EURGBP.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.827.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.830 level.
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.
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EUR-GBP Potential Long! Buy!
Hello,Traders!
EUR-GBP is retesting a
Horizontal support of 0.8260
After some downward movement
So we will be expecting a
Local bullish rebound
And a move up
Buy!
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Check out other forecasts below too!
EUR_GBP LONG FROM SUPPORT|
✅EUR_GB P is going down to retest a horizontal support of 0.8261
Which makes me locally bullish biased
And I think that we will see a rebound
And a move up from the level
Towards the target above at 0.8301
LONG🚀
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POTENTIAL UPWARDS IMPULSE MOVEMENT!Hello,
A clear descending triangle pattern has formed. This level also serves as a strong weekly support/demand area. I believe prices have accumulated enough, and soon there may be a significant correction or the start of a fresh trend.
Place your stop loss below the triangle and set your TP at a 1:3 RR. Please share your opinion.
Good luck!
Correction The corrective trend is expected to end in the current support range, then the start of the uptrend is likely
DeGRAM | EURGBP retest of the support levelEURGBP is under a descending channel between the trend lines.
The chart has reached the support level and the lower trend line and then finished forming a harmonic pattern.
Now the price is holding above the support level and is near the lower boundary of the channel.
We expect a rebound after support retest and consolidation in the channel.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
Bearish drop?EUR/GBP has reacted off the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.83078
Why we like it:
There is a pullback resistance level that lines up with the 38.2% Fibonacci retracement.
Stop loss: 0.83303
Why we like it:
There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement.
Take profit: 0.82609
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURGBP Technical Analysis! BUY!
My dear subscribers,
EURGBP looks like it will make a good move, and here are the details:
The market is trading on 0.8286 pivot level.
Bias - Bullish
My Stop Loss - 0.8267
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.8319
About Used Indicators:
The average true range (ATR) plays an important role in 'Supertrend' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility.
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WISH YOU ALL LUCK
#016 DCA EURGBP BUYBuying into Major Support area on the 15 Minutes Time Frame's range.
Price is currently in parabolic sell, so I expect price to be rebounding off this major support.
Reason for parabolic selling is late scalpers coming into the game just like Labubu by PopMart's bottleneck release (limited stocks available). They think that they are able to sell Labubu for sky high prices because there's anaconda like queues outside official PopMart trying to get their hands on Labubu to resell for sky high prices.
Many people get burnt when PopMart released more stocks. Who would want to buy from scalpers when they can get it from official PopMart when buyers doesn't even know if the stock is authentic or not?
That's just template explanation. I don't know the actual reason why EURGBP is parabolic.
4H and 1H is going downward according to the 60SMA, but I am not going to sell into Major Resistance and I want to do something, and I think this opportunity is alright. Just don't be greedy.
I haven't place any Buy Limit Orders yet. Shall see.
Taking profit at the next Minor Resistance level as marked.
1802SGT 02122024
