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GBPEUR trade ideas

Could EUR/GBP see .8500 and Below?! Here I have EUR/GBP on the 1Hr Chart! We can see that following the 3rd Divergent High @ .86248, price makes a steep Decline breaking the Previous Higher Low @ .85757 and creating a LOWER LOW @ .85496 turning this once Uptrend into a Downtrend! After the New Low is created, we see price makes a textbook Retracement back to the 61.8% Fibonacci Level @ .85783 which happens to test the previous Higher Low to then proceed back down to close for the week just above the New Low! I believe we could be witnessing the Confirmation of an Elliot Correction Wave coming where based on the ABC method: -Prices' LH correction marking our B Point indicates that based off our Fib Ext Tool, we could see price Decline to the Range Target of ( .8457 - .84282 ) -Price Breaking the A Point will be Confirmation of potential Selling Opportunities *.8500 will be the next area we will see Price wrestle with once it breaks the Lower Low @ .85496 Indicators: -Bearish Reading- - Price is working BELOW my DEMA - Flattening of the 200 EMA - RSI BELOW 50 after creation of LL -BBTrend printing Red Bars
Short
by Novi_Fibonacci
1
idea on a trade ICT concept we can see a nice setup .EUR GBP i dont trade this pair but this looks great H4 high taken out. And the last BOS taken out. The EUR/GBP declined to 0.8540, UK employment data bolstered the Pound Sterling during the European session. Sentiment data made the Euro lose interest during the session. Tuesday witnessed the EUR/GBP pair fall, after the release of UK employment data, which supported the Pound Sterling. On the other hand, weak European Sentiment figures weighted on the Euro. The UK released mixed labor market data for the three months ending in June. Average weekly earnings, excluding bonuses, rose by 5.4% YoY, aligning with expectations but slightly above the Bank of England's (BoE) Q2 projection of 5.1%. When including bonuses, total earnings growth slowed to 4.5% YoY, a 1.2 percentage point decrease. This deceleration in wage growth could support the BoE's easing stance, though upcoming Consumer Price Index (CPI) data will be crucial. Additionally, unemployment unexpectedly dropped to 4.2%, the lowest since February.
by EZIO-FX
7 Dimension Sell Analysis for EurGBPCore Analysis Method: Smart Money Concepts 😇7 Dimension Analysis Time Frame: H1/M5 1: Swing Structure: Bearish with proper BOS after taking inducement and marking valid low. The price completed its corrective swing move with 4 pullbacks and a proper internal bullish structure, mitigating the extreme POI OB and sweeping swing liquidity in the Premier zone. It also swept external swing liquidity, making this entry more interesting with the Whale scoop entry setup. Resistance: Supply area acts strong with a false breakout. Post-break buildup failed strongly, indicating that the price will go further down to form another low. 2: Pattern 🟢 CHART PATTERNS: Reversal: Rounding bearish patterns and consolidation rectangle bear side breakout. Shakeout reversal also at the same point. 🟢 CANDLE PATTERNS: Multiple long wick candles at the POI area, then breakout the range with a momentum strict engulfing pattern. 3: Volume 🟢 Shows very good volume at the resistance level, but this volume is unable to break the resistance, so we consider it an execution volume at the point. 4: Momentum RSI 🟢 Since the start of July, momentum has been in the bearish zone with multiple bearish range shifts and divergence, everything loudly indicating this is still in the bearish phase. 5: Volatility Bollinger Bands 🟢 Expansion has started just with momentum. Bearish headfake also indicates bearish volatility in this pair for now. 6: Strength: Showing weakness. 7: Sentiment: Everything is in bearish favor. ✔️ Entry Time Frame: M5 ✅ Entry TF Structure: Bearish ☑️ Trend line breakout: Yes 💡 Decision: Sell 🚀 Entry: 0.8441 ✋ Stop Loss: 0.8451 🎯 Take Profit: 0.8400 😊 Risk to Reward Ratio: 5RR 🕛 Expected Duration: 3 Days SUMMARY: Analysis supports a strong sell position based on the Smart Money Concepts methodology, with expected bearish momentum and high potential reward.
Short
by Optimum369
EUR/GBP Possible Correction Up#trading_idea #EURGBP 💡 #EURGBP - Possible Correction Up On the hourly chart, it's evident that the price has strongly bounced off the support level at 0.8531. According to the Heikin-Ashi candles, a reversal towards an upward correction seems likely. The MACD also suggests a potential upward correction. 🔼We may see a break of the 0.8543 resistance, with a possible further rise to resistance 0.8551. 🔽Otherwise, a slide back to the support at 0.8531 is likely. In case the pair will break down this level we may see the level 0.8519. 🔴 Click "👍" if you think the price will rise and "👎" if you think it will fall.
Long
by sabiotrade
EUR/GBP Weakens by an Improvement in Unemployment RateEUR/GBP Weakens by an Improvement in Unemployment Rate From the previous analysis for EURGBP, we can see that the price just reached the first target. This move today was also supported by employment data from the UK, which showed an improvement in the unemployment rate which fell from 4.2% to 4.5% forecast and 4.4% last month. EURGBP may move down more ahead of the UK CPI data we have tomorrow. The market is expecting the UK CPI data to come in at 3.4% from 3.5% on a yearly basis. 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❤️ Previous analysis:
Short
by KlejdiCuni
1
EURGBP today - Break Rectangular ConsolidationEURGBP is consolidating in a rectangular formation - .8545 - .8570. Following a Drop, this consolidation is a continuation pattern, suggesting a further Drop. Before that, look for the Smart Money to trap bulls with a false break to the upside. Most likely in the London Session, as per yesterday and a move towards the Daily R1 Pivot. The false break would be a good time to go short at a higher price and look to target the immediate demand zone at .8525
Short
by Umlingo
EURGBP BEARISH REVERSAL As we enter a new week so are the bears we have started seeing that the buyers are pulling out and so the bears will be trying to push the price down to liquidate the underlying unmitigated orders that are around @0.85153 If we have more orders then they will have to drive the market down to around @0.84600 before they can fuel the currency back up again to its bullish state but as of this week expect to see more of bears coming in and less of bulls my 1st Tp @ 0.85153
Short
by que
eurgbp sellnical Indicators Trendline Resistance: EUR/GBP is currently facing strong resistance at a descending trendline, indicating potential for further downward movement1. Fibonacci Retracement: The pair has retraced to the 61.8% Fibonacci level, which often acts as a strong resistance zone in a downtrend1. Bearish Divergence: The RSI is showing bearish divergence, suggesting that the bullish momentum is weakening and a reversal to the downside could be imminent2. Key Levels Resistance: 0.8600 Pivot: 0.8550 Support: 0.85001 Moving Averages The 50-period EMA is currently above the 200-period EMA, but the gap is widening, indicating a continuation of the bearish trend2. RSI The RSI is approaching the 50 level from above, which could signal a shift in momentum if it crosses below2. Conclusion Based on the current technical setup, EUR/GBP shows potential for a bearish move, especially if it can break below the key support levels and maintain momentum. Traders should watch for a confirmed breakdown and consider entering short positions with appropriate risk management.
Short
by Mansa_Musa_Capital