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GBPEUR trade ideas

Elliott Wave View in EURGBP Calling for More DownsideShort Term Elliott Wave View in EURGBP suggests that decline to 0.8295 on October 18, 2024 ended wave (1). Wave (2) corrective bounce is proposed complete at 0.8447 as the 1 hour chart below shows. Internal subdivision of wave (2) unfolded as a Flat Elliott Wave structure. Up from 10.18.2024 low, wave A ended at 0.8352 and wave B pullback ended at 0.8295. Wave C higher ended at 0.8447 which completed wave (2) in higher degree. Pair has turned lower in wave (3) with internal structure of an impulse. Down from wave (2), wave (i) ended at 0.8366 and wave (ii) ended at 0.8418. Wave (iii) has resumed lower as an impulse. Down from wave (ii), wave i ended at 0.8388 and wave ii ended at 0.8412. Wave iii lower ended at 0.8414 and wave iv rally ended at 0.834. Last leg wave v lower ended at 0.8305 which completed wave (iii) in higher degree. Wave (iv) corrective rally ended at 0.833. Expect pair to extend lower to end wave v of ((i)). Then it should rally in wave ((ii)) to correct cycle from 11.1.2024 high before it resumes lower. Near term, as far as pivot at 0.8447 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
by Elliottwave-Forecast
EURGBP long Thursday Nov 7, 2024A long on EURGBP based on interest rate differential between the Euro and the GBP. Trading is based almost entirely on technical indicators that use past price action to forecast future price action. However, the trader who ignores fundamental forces that move markets is at a disadvantage to traders who factor fundamental data into their trading decisions. The fundamental data that have the most effect on exchange rates are interest rates, which affect the perceived value of currencies. While central bank rates are not volatile, the yields on government bonds, such as the U.S. 10-year treasury note, fluctuate on all time frames in global bond markets. Those yields reflect the expectation the market has as to where future central bank rates will go. Bond yields are often a leading indicator of interest rates and of exchange rates. In the forex market, the metric that applies to a currency pair is the interest rate differential, especially the delta, or change in the interest rate differential, on various time frames. This trade shows a case where movement of the interest rate differential, expressed in basis points, in the positive direction was a leading indicator of movement of the EURGBP currency pair in the same direction.
by Zee111666
EURGBP Will Grow! Buy! Take a look at our analysis for EURGBP. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 0.833. The above observations make me that the market will inevitably achieve 0.838 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
BUY EURGBP for bearish trend reversal STOP LOSS : 0.8295BUY EURGBP for bearish trend reversal STOP LOSS : 0.8295 Regular Bullish Divergence In case of Regular Bullish Divergence: * The Indicator shows Higher Lows * Actual Market Price shows Lower Lows We can see a strong divergence on the MACD already and There is a strong trend reversal on the daily time frame chart..... The daily time frame is showing strength of trend reversal from this strong level of Support so we are looking for the trend reversal and correction push from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
EURGBP - How will BOE decisions affect the pound?The EURGBP currency pair is below the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term descending channel. In case of an upward correction due to the meeting of the Central Bank of England today, we can see the supply zones and sell within those zones with appropriate risk reward. Breaking the specified support range will pave the way for this currency pair to continue its decline Britain’s Treasury Secretary, Reeves, stated that it is still too early to make changes to economic forecasts following the U.S. election. He also expressed confidence that trade flows between the UK and the U.S. will continue under Trump’s presidency, noting that during Trump’s previous term, the two nations had a strong and constructive relationship. Reeves showed optimism about Britain’s role in shaping the global economic agenda. Meanwhile, the risk of a German government collapse appears more serious than ever. The German government has entered a new phase of political crisis that could potentially lead to the final breakdown of the ruling coalition. Last Friday, a document from Germany’s Finance Minister, Christian Lindner, was leaked, outlining his plans for economic reform in Germany. This document analyzes the economic challenges facing the country and offers proposals, such as corporate tax cuts and increased working hours. With internal tensions peaking, the likelihood of government collapse has risen. ECB Vice President De Guindos stated that the European Central Bank is committed to a data-driven, meeting-by-meeting approach and is increasingly confident in achieving the 2% inflation target. Goldman Sachs, in its latest report, has lowered its GDP growth forecast for the Eurozone in 2025 to 0.8%, down from the previous forecast of 1.1%. This revision was attributed to potential threats stemming from Trump’s tariff policies following his reelection.
Short
by Ali_PSND
Sell EUR/GBP Channel BreakoutThe EUR/GBP pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 0.8392, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 0.8340 2nd Support – 0.8305 Stop-Loss: To manage risk, place a stop-loss order above 0.8422. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
6
Stuck in the Triangle? EUR/GBP's About to Break FreeAlright, let’s break down this EUR/GBP setup! Looking at the daily, we see EUR/GBP recently had a strong bullish push, but now it’s hitting a bit of consolidation just above the daily support at 0.83950. That area has acted as a significant barrier before, so if price can stay above it, we might see another leg up. On the daily, the 21 EMA is below price, showing that buyers are still holding on, but it’s struggling to break out decisively above that 0.84242 level. Switching down to the 4-hour, we can see that price is coiling up in a tight range, forming a triangle pattern. This setup is perfect for a breakout trade – we just need to see which direction it wants to move. If it breaks above the trendline around 0.84000, we could look for a buy, targeting the next resistance at 0.84242, and possibly higher if momentum kicks in. But if it breaks down below the 0.83950 support, then we’re likely looking at a sell with a target toward 0.83573. So here’s the plan: wait for a solid breakout from this triangle pattern on the 4-hour. Look for an entry around the breakout area, keeping your SL just below the structure on either side. Remember, let the market show you the move; patience pays, especially with consolidation setups like this.
by SheenaL