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GBPEUR trade ideas

Support test and possible ignition move in the EURGBP.EUR/GBP is sitting in a significant support area on the daily chart, marked by a descending trendline (which was broken in yesterday’s candle) and a horizontal level of support that comes all the way from 2022. Below are some key points about the pair at the moment: Horizontal Support at Lowest time since 2022: The orange line on the chart marks a critical support area, coinciding with the lowest price recorded since 2022. This horizontal support suggests a strong turning point where sellers seem to be losing steam, which could indicate a possible reversal if the price remains above this level. Bullish Engulfing Pattern: On September 30, in the daily chart a Bullish Engulfing pattern has recently formed after the price touched the support area. This pattern, characterized by a bullish candle completely engulfing the previous bearish candle, signals renewed interest from buyers and potential bullish momentum in the coming days Break of downtrend line: On September 30th, EURGBP showed the beginning of a break of a downtrend line that has been in place since August 8th. This also indicates a potential increase in buying interest in this region. Fibonacci Levels as Potential Targets: The 0.382 and 0.5 Fibonacci levels stand out as potential targets for an upward correction. The red zone near the 0.5 level (around 0.8460) is an important resistance point, which could serve as a target if the price maintains its recovery. Resistance and Support: The orange line at the 0.8339 level represents a critical support zone. On the other hand, the region near 0.8460 (0.5 Fibonacci level) is a potential resistance and target for buyers if the bullish momentum continues. Considering these factors, an upward move could occur if the price remains above the support, with a possible target for levels near 0.8460. Alternatively, a break below the horizontal support and the descending trendline could trigger renewed selling pressure, driving the price to lower levels. Watch for NonFarm Payrolls (NFP) on Friday: Traders interested in EUR/GBP should also keep an eye on the upcoming US NonFarm Payrolls (NFP) report, which is due out on Friday, November 1. This economic indicator affects the dollar directly, but it can also impact global market sentiment, influencing pairs such as EUR/GBP. A strong NFP reading could lead to an overall strengthening of the dollar, which could indirectly affect the euro and pound, while a weak reading could have the opposite effect. Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested.
Long
by Marketscom
EUR/ GBP ! 10/31 ! resistance SELL NOW EUR/ GBP trend forecast October 31, 2024 EUR/GBP trades slightly lower near 0.8360 early Thursday in Europe, easing after gains from the previous session. However, the Euro may find support as investors reduce expectations for a large ECB rate cut in December, following stronger-than-expected economic data from the Eurozone and Germany on Wednesday. Focus now shifts to Thursday's release of the Eurozone HICP. H1 resistance - selling pressure exists in this area, besides, today's EUR news data is also predicted by experts to be bad, creating conditions for price to decrease. /// SELL EUR/GBP : zone 1.83780 - 1.83980 SL: 1.84250 TP: 60 - 120 - 200 pips (1.81980) Safe and profitable trading
Short
by Moon-ForexAcademy
1
EURGBP The Target Is DOWN! SELL! My dear friends, EURGBP looks like it will make a good move, and here are the details: The market is trading on 0.8342 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 0.8320 Recommended Stop Loss - 0.8354 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
EURGBP to find sellers at market price?EURGBP - 24h expiry The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. Preferred trade is to sell into rallies. Selling spikes offers good risk/reward. 20 1day EMA is at 0.8343. We look to Sell at 0.8355 (stop at 0.8375) Our profit targets will be 0.8290 and 0.8280 Resistance: 0.8322 / 0.8340 / 0.8352 Support: 0.8315 / 0.8295 / 0.8280 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
1
Market Analysis: EUR/GBP StrugglesMarket Analysis: EUR/GBP Struggles EUR/GBP declined steadily below the 0.8330 and 0.8325 support levels. Important Takeaways for EUR/GBP Analysis Today - EUR/GBP is trading in a bearish zone below the 0.8350 pivot level. - There is a connecting bearish trend line forming with resistance near 0.8330 on the hourly chart at FXOpen. EUR/GBP Technical Analysis On the hourly chart of EUR/GBP at FXOpen, the pair started a fresh decline from well above 0.8400. The Euro traded below the 0.8350 and 0.8330 support levels against the British Pound. The EUR/GBP chart suggests that the pair even declined below the 0.8310 level and tested 0.8300. It is now consolidating losses and trading below the 50-hour simple moving average. The pair is now facing resistance near the 61.8% Fib retracement level of the downward move from the 0.8350 swing high to the 0.8298 low. The next major resistance could be 0.8300, a connecting bearish trend line, and the 50-hour simple moving average. It coincides with the 76.4% Fib retracement level of the downward move from the 0.8350 swing high to the 0.8298 low. The main resistance is near the 0.8350 zone. A close above the 0.8350 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8400. Any more gains might send the pair toward the 0.8420 level. Immediate support sits near 0.8310. The next major support is near 0.8300. A downside break below the 0.8265 support might call for more downsides. In the stated case, the pair could drop toward the 0.8220 support level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
EUR/GBP SHORT Looking into this pair I believe that due to my analysis this shows signs of a clear short incoming. Fundamentals have pointed out that the banks and institutions are long in favour of the GBP which offers higher rates for exchanges, as well as remaining table though its news releases of PMI, Inflation and Employment numbers. The EUR seeming trades well this season over the past 15 years however today this is showing signs that it is declining and no where near the seasons previously. Institutions such as banks and funds as of last Tuesday have repositioned their thesis into the GBP being the stronger suitor and there for have large LONG positions on the GBP compared to the EUR which they have sold off, or shifted their leverage to a mainly SHORT position. Monitor the charts and we could see a nice entry criteria to meet our thesis and short this pair lower.
Short
by CLMW-Trading
2
EURGBP Poised to Challenge Key Resistance LevelThe EUR/GBP currency pair is emerging from a long phase of consolidation, attempting to break through critical resistance levels driven by shifts in local euro exchange rates. Recently, the pair has shown signs of testing both wedge resistance and consolidation resistance—a potentially bullish signal after a sustained period of price stability. The initial focal point for this breakout is the resistance at 0.8346. Should the bulls successfully defend this level, it could mark the beginning of a more substantial upward move, targeting higher resistance levels between 0.838 and 0.842. This would signal a transition into a “realization phase” for the EUR/GBP, where the price progression aligns more firmly with underlying bullish momentum. Fundamentally, the broader economic landscape remains similar for both the Eurozone and the UK. Both economies face ongoing interest rate adjustments and a shared dependence on the robust dollar. However, subtle differences in sentiment are visible, as the euro shows slightly stronger buying interest among market participants. This positivity toward the euro could underpin further gains for the pair, supporting a bullish outlook if these technical thresholds are breached. Current resistance levels to monitor closely include 0.8346, followed by 0.8384 and 0.842. On the downside, support is established at 0.8316. The currency pair remains within a risk zone where a battle between buyers and sellers is underway. If buyers manage to consolidate above the recent breakout points—particularly above the critical 0.8346 mark—it could affirm a continuation of the upward trend. This consolidation above key resistance may well be the stepping stone needed to initiate a stronger bullish realization phase for EUR/GBP, as buyers seek to capitalize on the favorable technical and local sentiment indicators shaping the market outlook.
Long
by lonelyPlayer0