Eurgbp 24 Mar 2025Nice risk reward ratio, pending price to close above resistant line to confirm and spike higher
Good luck
EURGBP trade ideas
Eur/Gbp LongWait for price to pull back to support before entering longs. Lower support area is good for entering longs too.
First position can be taken at 0.83200 and second at 0.82240
SL under major lows
TP at 0.86000
This is not a investment advice only idea. I am retailtrader without any education in economics. I trade my own money only. As always make your own analysis first.
EURGBP 24.03.2025~+ Germany Services PMI Miss, UK Services PMI Beat (mixed with good Mfg PMI and good FR data)
+ Bearish eur COT
+ Seasonality
EURGBP INTRADAY sideways consolidation capped at 0.8420The EUR/GBP pair continues to exhibit bearish sentiment, reinforced by the prevailing downtrend. The key intraday resistance level is at 0.8420, marking the current swing high.
Bearish Scenario:
An oversold rally from current levels, followed by a bearish rejection at 0.8420, would likely target downside support at 0.8353. A break below this level would open the door for further declines toward 0.8335 and 0.8300 in the longer timeframe.
Bullish Scenario:
Alternatively, a confirmed breakout above the 0.8420 resistance, accompanied by a daily close above this level, would invalidate the bearish outlook. This would pave the way for further rallies, with the next resistance levels at 0.8450 and 0.8490.
Conclusion:
The prevailing sentiment remains bearish as long as 0.8420 holds as resistance. Traders should watch for rejection at this level to confirm downside momentum. Conversely, a decisive breakout above 0.8420 would signal a potential shift to a bullish bias, targeting higher resistance levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
EUR/GBP Chart Analysis – Inverse Head & Shoulders Bullish SetupThis EUR/GBP 1-hour chart showcases a classic Inverse Head & Shoulders (H&S) pattern, signaling a potential trend reversal from bearish to bullish. This pattern is considered one of the most reliable technical formations for spotting upcoming upward momentum, particularly after a prolonged downtrend.
🔎 Market Overview
Currency Pair: EUR/GBP
Timeframe: 1-Hour (H1)
Current Price: 0.83720
Trend: Transitioning from a downtrend to a potential bullish breakout
Key Pattern: Inverse Head & Shoulders
Trading Bias: Bullish (Pending breakout confirmation)
📊 Chart Breakdown & Technical Analysis
1️⃣ Market Structure & Trend Analysis
Before the formation of the Inverse Head & Shoulders, the market was in a strong downtrend, making lower highs and lower lows. However, buyers started stepping in near the 0.8350 level, preventing further decline. This rejection at key support has set the stage for a potential trend reversal.
Left Shoulder: Price formed a minor low around 0.8370, followed by a small bounce.
Head: Price made a deeper low around 0.8351, confirming strong support and buyer interest.
Right Shoulder: Price attempted another dip but failed to break below the previous low, forming a higher low near 0.8370, signaling increasing bullish pressure.
Neckline Resistance: 0.8385 - 0.8390 zone – a crucial level that price needs to break for confirmation of an uptrend.
2️⃣ Key Support & Resistance Levels
Support Level: 0.83513 (Major demand zone)
Resistance Levels:
Neckline: 0.8385 - 0.8390 (Breakout confirmation zone)
Major Resistance: 0.84308 (Target level)
Curve Zone: A dynamic resistance trendline that has been containing price action. A breakout above this curve signals a potential shift in trend.
📈 Trading Strategy – Bullish Breakout Plan
✅ Entry Strategy:
A long trade should be considered only after a confirmed breakout above the neckline (0.8385 - 0.8390). The confirmation comes when:
A strong bullish candle closes above the neckline.
Increased trading volume supports the breakout.
A possible retest of the neckline as new support (0.8385) before continuation.
🎯 Target Price & Stop Loss:
Take Profit (TP): 0.84308 (Projected move based on pattern size).
Stop Loss (SL): Below 0.83513 (Right Shoulder low).
Risk-to-Reward Ratio (RRR): 1:2 or higher, making this a high-probability trade setup.
🛑 Risk Management & Trade Confirmation:
Volume Confirmation: A breakout should be accompanied by a volume spike, confirming strong buyer interest.
Fakeout Warning: If price briefly breaks above the neckline but then falls back below, it could be a false breakout. In this case, waiting for a retest would be a safer approach.
Trailing Stop: Once price moves toward 0.8410, a trailing stop can help secure profits in case of market reversals.
🧐 Summary – Key Takeaways
✅ Inverse Head & Shoulders Identified – A reliable bullish reversal pattern.
✅ Breakout Zone: 0.8385 - 0.8390 (Watch for confirmation).
✅ Target Price: 0.84308 (Potential profit zone).
✅ Stop Loss: Below 0.83513 (Protect against downside risk).
✅ Risk-to-Reward Ratio: Favorable (1:2 or better).
✅ Trading Plan: Buy above the neckline, aim for 0.8430, and manage risk properly.
📌 Final Thought: If the neckline is broken with strong momentum, expect a bullish move toward 0.8430+. However, traders should remain cautious of potential fakeouts and manage risk accordingly.
📢 Share your thoughts in the comments! Are you bullish on EUR/GBP? 🚀📊
#EURGBP #ForexTrading #TechnicalAnalysis #TradingSetup #InverseHeadAndShoulders
EUR/GBP - Precision in ChaosPrice action may be wild, but structure is structure—no noise, just levels. The 4H major LH is broken, giving a clear bullish outlook. Liquidity hasn’t been taken yet, nor has order flow fully played out, so the setup is still in motion.
Dropping to the 30M, I spotted a clean OB mitigation, confirming continuation potential. Now, it’s all about execution—on the 5M, I’m waiting for a CHoCH sweep and retrace for my entry. Simple, clean, and calculated.
For clarity, I’ll be showing the 15M chart, and I’ll be posting updates throughout the week to track how the markets play out. Stay tuned—blessings and precision trading ahead.
Bless Trading!
EURGBP - Sell SetupLooking to go short. Waiting for slight pullback to upside to then sell.
Leave a comment below, let me know what you think. Share with friends. Check out my profile for more awesome trade plans and setups
Trade Safe - Trade Well.
~Michael Harding CEO at LEFTURN
eurgbp|foxforexEURGBP is in an important support area within the falling trend channel. If it moves downwards, its first target is 0.82000, then 0.80500. If it moves upwards, its first target is the 0.84600 resistance.
EUR/GBP - Double Bottom Reversal Setup | Trendline BreakoutThis EUR/GBP (Euro to British Pound) daily chart presents a textbook double bottom reversal pattern, signaling a potential trend reversal after a prolonged downtrend. Additionally, a trendline breakout further strengthens the bullish outlook.
The market structure suggests that buyers are regaining control, and a breakout above the neckline resistance zone (0.84500 - 0.85000) could trigger a significant upward move. Let's break down this setup in detail.
📊 Technical Breakdown of the Chart
1️⃣ Double Bottom Formation – A Strong Reversal Signal
🔹 The double bottom is a powerful bullish reversal pattern that forms after an extended downtrend, indicating that selling pressure is fading and buyers are stepping in.
🔹 First Bottom: Established in December 2024, where the price reached a key support level (~0.82453) before bouncing back.
🔹 Second Bottom: Formed in March 2025, confirming the validity of the support level and creating a solid demand zone.
🔹 The neckline resistance (0.84500 - 0.85000) is the key level that price must break to confirm the reversal.
2️⃣ Trendline Breakout – Shift in Market Sentiment
🔹 The market has been in a downtrend, as shown by the descending trendline acting as resistance for several months.
🔹 Recently, the price broke above this trendline, indicating that bearish momentum is weakening and a potential trend reversal is underway.
🔹 This breakout adds confluence to the double bottom pattern, reinforcing the bullish bias.
3️⃣ Key Support & Resistance Levels to Watch
📌 Support Zone (Bottom Area) – 0.82453:
✅ This level has been tested twice (December & March), confirming it as a strong demand zone.
✅ Price consistently rebounded from this level, showing buyers’ dominance.
✅ This is the ideal stop-loss level to protect against downside risks.
📌 Resistance Zone (Neckline) – 0.84500 - 0.85000:
✅ A breakout above this neckline resistance is necessary for a bullish continuation.
✅ If price breaks and retests this level as support, it will confirm a high-probability buy setup.
📌 Target Level – 0.87394 (Projected Move)
✅ This is calculated using the measured move technique, where the distance from the bottom to the neckline is projected upwards.
✅ This level coincides with a previous resistance zone, making it a realistic target.
📈 Trading Strategy – How to Trade This Setup
🎯 Entry Plan for Long Position (Buy Setup)
1️⃣ Breakout Entry:
Enter a long position after a confirmed breakout above 0.85000.
Watch for strong bullish candles with volume confirmation.
2️⃣ Retest Entry (Safer Option):
If price breaks above resistance, wait for a pullback and retest of the 0.84500 - 0.85000 level.
If price holds this zone as new support, it strengthens the bullish confirmation.
📉 Stop-Loss Placement (Risk Management)
✅ Place a stop-loss just below the support zone (0.82453) to protect capital.
✅ This level is strong because price has bounced off it twice, confirming buyer strength.
🎯 Profit Target (Take Profit)
✅ The projected target is 0.87394, aligning with previous resistance.
✅ This offers a high reward-to-risk ratio (RRR), making the trade worth taking.
⚠️ Risk Management & Market Outlook
✅ Bullish Bias – Price action suggests uptrend continuation after breaking out of the trendline.
✅ Confirmation is Crucial! – Enter only after a clear breakout and retest.
✅ Watch for Fakeouts – If price fails to hold above the neckline, it could be a false breakout.
✅ Fundamental Factors – Keep an eye on economic data and central bank policies (ECB & BoE) that may impact the GBP & EUR.
📢 Final Thoughts – Why This Trade is High-Probability
🚀 Double Bottom + Trendline Breakout = Strong Bullish Signal
🚀 Neckline Breakout Above 0.85000 = Confirmation of Trend Reversal
🚀 Targeting 0.87394 with a Favorable Risk-Reward Setup
If price successfully breaks and holds above resistance, we could see a strong rally toward 0.87394 in the coming weeks.
📌 Monitor price action carefully and wait for confirmation before entering the trade.
🔔 Like & Follow for More Trading Setups! 🚀📈
Trade Analysis Of EUR GBP1️⃣ Market Context
The chart is showing a Head & Shoulders (H&S) pattern, which is a bearish reversal pattern.
The price has broken below the neckline (black trendline), confirming the pattern.
A retest of the neckline is occurring, which could lead to further downside.
2️⃣ Trade Setup Breakdown
🔹 Pattern Breakdown:
Left Shoulder: Formed around 0.8410 - 0.8420.
Head: Formed at a higher high near 0.8450.
Right Shoulder: Lower high, confirming bearish structure.
Neckline Breakout: Price broke below 0.8370 - 0.8380 and is now retesting it.
🔹 Trade Setup:
✅ Entry (Short Position): The short trade appears to be taken at the retest of the neckline (~0.8380 - 0.8400).
✅ Stop Loss (SL): Around 0.8410 - 0.8420 (above the neckline).
✅ Take Profit (TP): Around 0.8300 - 0.8310, where strong demand is present.
3️⃣ Possible Scenarios
📉 Bearish Case (Preferred):
If price rejects the neckline, it could continue downward to 0.8310 - 0.8300 (profit target).
📈 Bullish Case (Invalidation):
If price breaks and holds above 0.8410, the H&S pattern fails, and price could push higher.
📌 Conclusion
Current Bias: Bearish (Short Setup in Play)
Ideal Confirmation: A rejection from the neckline with strong bearish candles.
Watch for breakdown below 0.8350 for momentum continuation.
EUR/GBP LONG 4H
Hi, my name is Russo Andrea and I am a Forex Trader. Today I want to talk to you about a trading strategy that I am considering on EUR/GBP, a very interesting pair for those who, like me, operate in the currency markets.
The idea behind this trade is to go LONG on EUR/GBP. After analyzing the technical data and fundamentals, I believe that there is an interesting profit opportunity. Here are the details of my strategy:
Entry Point: 0.83781
Stop Loss (SL): 0.8550
Take Profit (TP): 0.84168
Trade Rationale: This trade is based on a combination of technical and fundamental analysis. Looking at the charts, we have a key support near the 0.83781 area, which represents an ideal level to open a long position. Technical indicators, such as RSI and moving averages, are showing signs of a possible bullish reversal.
On the other hand, my Stop Loss at 0.8550 was strategically placed to limit losses if the market moves against us, while still maintaining an acceptable risk for this trade. The Take Profit at 0.84168, on the other hand, represents a realistic level of profit based on previous resistances.
Risk Management: Risk management is essential in trading. It is important to always stick to your plan, without being influenced by emotions. With this trade, I am maintaining a balanced risk/reward ratio, increasing the probability of success in the long term.
DeGRAM | EURGBP correction in the channelEURGBP is in a descending channel between the trend lines.
The price is moving from the lower boundary of the channel and dynamic support.
The chart has formed a harmonic pattern and is now holding above the 38.2% retracement level.
We expect the growth to the level of 0.84075.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
EUR/GBP Analysis – Symmetrical Triangle Breakdown & Bearish MoveThis EUR/GBP chart on the 1-hour timeframe showcases a well-defined symmetrical triangle formation, a widely recognized pattern in technical analysis that signals potential breakout opportunities. The price action has respected the converging trendlines, indicating consolidation before a decisive move. Recently, the market has broken below the support zone, confirming a bearish breakdown and providing a strong signal for potential downside movement.
This analysis will cover pattern formation, key technical levels, trading strategy, risk management, and future market outlook to provide a comprehensive professional breakdown of this setup.
1. Chart Pattern Analysis – Symmetrical Triangle Formation
A symmetrical triangle consists of two converging trendlines that squeeze price action into a narrowing range, reflecting market indecision. This pattern is considered a continuation pattern, meaning that the price is likely to continue in the direction of the prevailing trend after the breakout.
Pattern Characteristics in This Chart:
✅ Lower Highs: Price fails to break previous peaks, indicating weakening bullish momentum.
✅ Higher Lows: Buyers step in at higher points, preventing aggressive declines.
✅ Volume Decrease: Typical of consolidation within a symmetrical triangle.
✅ Breakout Confirmation: A strong bearish candle broke below the support level, signaling further downside potential.
2. Key Technical Levels & Zones
📌 Resistance Level + All-Time High (ATH) – 0.8421
This level represents the highest point in the pattern, where price faced repeated rejections.
It aligns with a historical resistance zone, indicating a strong supply area.
A breakout above this level would shift the market to a bullish bias.
📌 Support Level – 0.8379 (Now Acting as Resistance)
Previously a key demand zone where buyers defended the price.
Price has now broken below this level, confirming it as new resistance in a bearish scenario.
A successful retest followed by rejection increases downside confirmation.
📌 Stop-Loss Placement – 0.8421
Located above the upper trendline and recent highs to avoid false breakouts.
If price regains this level, the bearish scenario will be invalidated.
📌 Target Zone – 0.82926 (Major Support Area)
This is the next strong support level, acting as a potential take-profit zone for short positions.
It aligns with a previous price reaction area, making it a logical target for sellers.
3. Trading Setup & Strategy – Bearish Trade Plan
The breakdown from the symmetrical triangle structure presents an opportunity to short the pair with a defined risk-to-reward setup.
📌 Entry Strategy:
Enter short positions after price breaks and retests the 0.8379 support level as resistance.
Confirmation should come from bearish candlestick patterns like engulfing candles or pin bars.
📌 Stop Loss:
Placed above 0.8421, above the last swing high, to protect against potential false breakouts.
📌 Take Profit (TP) Target:
First TP: 0.8325 (Intermediate support)
Final TP: 0.82926 (Major support and key structure level)
Alternative Scenario – Bullish Reversal Possibility
If price reclaims 0.8379 and closes above it consistently, the bearish breakdown might be a false move.
A move above 0.8421 would invalidate the bearish setup, leading to potential bullish momentum.
4. Risk Management & Trade Confirmation
✅ Volume Analysis
A significant increase in volume on the breakdown strengthens the bearish outlook.
Low volume retests may indicate a weak reversal attempt, favoring continuation downward.
✅ Bearish Price Action Confirmation
Lower highs and consistent lower lows reinforce a bearish sentiment.
Rejections from the broken support (now resistance) validate the trade setup.
✅ Risk-to-Reward Ratio (RRR)
The Stop-Loss (SL) is tight, and the profit target is significantly larger, making this a high RRR trade.
Ideally, a RRR of at least 2:1 or 3:1 should be maintained for proper risk control.
5. Market Sentiment & Future Outlook
Bearish Bias Strengths:
Trendline break indicates strong downside pressure.
Failed attempts to break resistance suggest weakening bulls.
Global macroeconomic factors and fundamental catalysts may favor GBP strength over EUR in the near term.
Reversal Risks:
A strong bullish breakout above 0.8421 would shift momentum to the upside.
Fundamental news events (e.g., ECB or BoE statements) can impact market direction unexpectedly.
6. Summary & Conclusion
🔹 The EUR/GBP 1-hour chart has broken below a symmetrical triangle pattern, confirming a bearish breakout.
🔹 Key levels to watch: Resistance at 0.8421, support at 0.82926.
🔹 Trading strategy favors short positions, with a target at 0.82926 and a stop loss at 0.8421.
🔹 Confirmation comes from trendline breaks, volume analysis, and lower highs/lows structure.
📌 Final Verdict:
The setup is bearish unless price reclaims 0.8379 and invalidates the structure.
Traders should monitor price action, volume, and news events for further confirmations.
🔥 Potential Profit Target: 80-90 Pips 📉
⚠️ Risk Management is Crucial – Always Use Stop Loss & Proper Position Sizing
posibility of uptrendIt is expected that within the specified time frame, a trend change will form and we will see the start of an upward trend.
EURGBP SWING UPDATE: SCALING INTO PULLBACK AT 0.83376!ICMARKETS:EURGBP
🟢 LONG EURGBP @ 0.83376 (Short-Term Add-On)
✅ Catalyst: Retest of swing support + H1 bullish reversal.
🛑 SL: 0.83125
🎯 TP1: 0.83766 (1:1.5 R:R)
🎯 TP2: 0.84125 (1:3.0 R:R)
📊 Chart: Pullback to 0.8310 (swing low) aligns with uptrend. RSI confirms bullish momentum.
🌍 Context: Core swing trade (TP3: 0.85151) still active; BOE dovishness vs. ECB resilience favors EUR.
💬 “Holding swing + adding here? What’s your move? 👇
#Forex #EURGBP #SwingTrading
EURGBP: Rectangle Top rejection. Sell opportunity.EURGBP is neutral on its 1D technical outlook (RSI = 52.272, MACD = 0.002, ADX = 25.202), going from an almost overbought RSI to neutral as it got rejected on the R1 Zone. That is the top of the 6 month Rectangle pattern, where the last rejection pulled the price all the way down to the S1 Zone. This time the presence of both the LH and HL trendlines makes us consider a slightly tighter trading range. The trade is short, TP = 0.82600.
See how our prior idea has worked out:
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EUR/GBP Analysis – Bearish Momentum Gaining StrengthThe EUR/GBP pair has shown a significant shift in market structure, breaking below a critical support level and signaling further downside potential. After facing strong resistance near the 0.84400 region, the price struggled to maintain bullish momentum and started forming lower highs, indicating selling pressure.
Technical Breakdown:
Resistance Zone: The upper boundary near 0.84400 acted as a supply area where sellers gained control. Multiple rejection candles at this level confirmed that buyers were losing strength.
Support Breakdown: The price recently broke below a key support zone, which had previously acted as a demand area. This breakdown suggests a shift in market sentiment from bullish to bearish.
Bearish Continuation Pattern: The chart displays a clear lower high and lower low formation, reinforcing the bearish trend. The price is now retesting the breakdown zone, which could serve as a new resistance level before further declines.
Target Projection: The next major support lies at 0.82508, which aligns with a previous consolidation zone. If the bearish momentum persists, we may see a test of this level in the coming sessions.
Trading Considerations:
📌 Bearish Bias: Traders may look for sell opportunities on pullbacks toward resistance levels.
📌 Confirmation: A retest of the breakdown level with rejection signals could provide a strong entry point.
📌 Risk Management: Stop-loss placements above 0.83800 could help manage risk in case of an unexpected bullish reversal.
💡 Final Thoughts:
With the prevailing bearish momentum, EUR/GBP is likely to continue downward unless buyers regain control at key levels. Traders should watch for price action signals near support and resistance zones to confirm trade setups.
EUR/GBP Technical Analysis – Triangle Breakdown & Bearish MoveChart Overview
This EUR/GBP 1-hour chart highlights a symmetrical triangle pattern that has recently broken to the downside, signaling a potential bearish move. The chart includes key technical levels such as resistance, support, trendlines, and a projected price target. Let’s analyze each component in detail.
1. Formation of a Symmetrical Triangle
A symmetrical triangle is a continuation pattern, meaning it typically precedes a breakout in the direction of the prevailing trend. In this case:
The pair initially rallied sharply, forming a strong uptrend.
A consolidation phase followed, where price started forming lower highs and higher lows, creating a contracting triangle.
The triangle’s resistance and support levels were tested multiple times, confirming their significance.
Key takeaway: The more times price tests support and resistance without breaking through, the stronger the eventual breakout.
2. Breakdown from the Triangle – Bearish Signal
The price broke below the support level, triggering a breakdown from the symmetrical triangle.
This breakdown was accompanied by a strong bearish candlestick, indicating a decisive move to the downside.
The previous support is now acting as resistance, meaning any pullback to this zone could provide a shorting opportunity.
Why is this important?
A breakdown from a triangle often results in a sharp directional move, especially if it aligns with the broader market trend.
3. Trendline Analysis – Uptrend Reversal
The rising trendline that supported the price action has been broken, further confirming trend exhaustion and a shift to bearish momentum.
Before the breakdown, the price had been respecting the trendline as support.
After the breakdown, the trendline is invalidated, reinforcing the bearish outlook.
Technical Insight:
Trendlines act as dynamic support/resistance, and once broken, they often lead to strong directional movements.
4. Key Support & Resistance Levels
Resistance Level (Former Support Zone):
This level was previously a strong demand zone where buyers stepped in.
Now that price has fallen below it, this area could act as a resistance if price retests it.
Traders should watch for bearish rejections or reversal patterns (such as shooting stars or bearish engulfing candlesticks) before entering short positions.
Support Level & Bearish Target (0.829):
The chart highlights 0.829 as the next significant support area.
This level aligns with historical price action and provides a logical take-profit zone for short traders.
5. Expected Price Action – Bearish Continuation Scenario
Given the breakdown from the triangle, the expected movement is as follows:
A short-term pullback to the broken support (now resistance).
Rejection from this zone, leading to further downside momentum.
Price reaching the projected target near 0.829, where traders may look to take profits or reassess market conditions.
6. Trading Strategy & Risk Management
✅ Bearish Trade Setup
Entry: On a pullback to the broken support level (preferably with bearish confirmation signals).
Stop-Loss: Above the previous resistance level to avoid false breakouts.
Take-Profit: Around the 0.829 target or lower if momentum continues.
⚠ Risk Considerations
If price closes back above the broken support, it may indicate a false breakout, invalidating the bearish trade setup.
Fundamental news events (such as central bank decisions or economic data) could impact price movement unexpectedly.
Conclusion – Bearish Outlook with Defined Target
This chart presents a textbook triangle breakdown, reinforcing the bearish bias for EUR/GBP. The structure suggests that price will continue lower toward the 0.829 target, unless invalidated by a strong reversal. Traders should watch for pullbacks and rejection signals before entering short positions.
Key Levels to Watch:
✅ Resistance: 0.835 - 0.837 (Former Support Zone, Now Resistance)
✅ Target: 0.829 (Projected Price Target)
📉 Bias: Bearish
Final Thought
This setup provides a high-probability trade idea for traders looking to capitalize on momentum. As always, implementing proper risk management is crucial to navigate market uncertainties. 🚀
EURGBP: Bullish Continuation is Highly Probable! Here is Why:
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to buy EURGBP.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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EURGBP INTRADAY Bearish continuation The EUR/GBP pair continues to exhibit bearish sentiment, reinforced by the prevailing downtrend. The key intraday resistance level is at 0.8420, marking the current swing high.
Bearish Scenario:
An oversold rally from current levels, followed by a bearish rejection at 0.8420, would likely target downside support at 0.8353. A break below this level would open the door for further declines toward 0.8335 and 0.8300 in the longer timeframe.
Bullish Scenario:
Alternatively, a confirmed breakout above the 0.8420 resistance, accompanied by a daily close above this level, would invalidate the bearish outlook. This would pave the way for further rallies, with the next resistance levels at 0.8450 and 0.8490.
Conclusion:
The prevailing sentiment remains bearish as long as 0.8420 holds as resistance. Traders should watch for rejection at this level to confirm downside momentum. Conversely, a decisive breakout above 0.8420 would signal a potential shift to a bullish bias, targeting higher resistance levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Scholz and Macron: Europe, arms for Ukraine
Recently, German Chancellor Olaf Scholz and French President Emmanuel Macron reiterated their commitment to providing military aid to Ukraine. This decision comes at a crucial time, with the conflict continuing to profoundly affect the global economy and geopolitics.
### Implications for the war and Europe
Scholz and Macron's choice to continue with military supplies underscores Europe's determination to support Ukraine against Russian aggression. However, this stance could escalate tensions with Moscow, which has already expressed its displeasure. The war in Ukraine has already had a significant impact on the European economy, with energy prices rising and supply chains disrupted. Continuing to supply weapons could prolong the conflict, but could also strengthen Europe's position as a key player in defending democratic values.
### Impact on Forex
The news has significant implications for the Forex market. Several currency pairs could be significantly affected:
- **EUR/USD**: The euro could come under pressure due to economic uncertainties and Europe's exposure to the conflict. On the other hand, the US dollar could strengthen due to its safe-haven status.
- **USD/RUB**: The Russian ruble could see further depreciation due to geopolitical tensions and potential new Western sanctions against Russia.
- **EUR/GBP**: The euro-sterling relationship could be affected, with the euro under pressure and the pound showing relative stability, as the UK is less directly exposed to the conflict.
- **USD/CHF**: The Swiss franc, traditionally considered a safe-haven asset, could also strengthen against the US dollar in the event of further escalations.
- **AUD/USD and CAD/USD**: Commodity currencies such as the Australian and Canadian dollars could see increased volatility, as natural resource markets remain affected by the conflict.
### Conclusion
Scholz and Macron’s decision to continue supplying weapons to Kiev is a strong signal of European solidarity, but it brings with it significant challenges. Forex investors should carefully monitor the listed currency pairs and geopolitical developments, as volatility could offer opportunities, but also risks.
