EURGBP BUY PROJECTION We can see price has clearly broken out of the downtrend, causing a change of character which we can see price break structure and returned to go long. Already in profits
GBPEUR trade ideas
Eurgbp buy Resistance has not been able to pass 0.82530 , which means it’s a long and we can easily catch 40-50 pips however long term it can reverse
Bullish bounce off 50% Fibonacci support?EUR/GBP is falling towards the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.8269
Why we like it:
There is a pullback support level that lines up with the 50% Fibonacci retracement.
Stop loss: 0.8223
Why we like it:
There is a pullback support level.
Take profit: 0.8329
Why we like it:
There is an overlap resistance level.
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Possibility of uptrend The price is expected to fluctuate above the support range and then continue the upward trend until the specified resistance levels are formed.
EURGBP RETRACESFUNDAMENTAL VIEW
On Monday, December 16, 2024, Eurozone data showed mixed results. French manufacturing PMI fell short of expectations, recording 41.9 compared to a forecast of 43.2, while service PMI improved to 48.2, surpassing the 46.9 forecast. Similarly, Germany reported manufacturing PMI at 42.1 against an expected 43.1, while service PMI outperformed, coming in at 51.4 compared to 49.5.
While In the UK, PMI data also reflected mixed outcomes. Manufacturing PMI registered 47.3, below the 48.4 forecast, while service PMI came in stronger at 51.4, beating the 50.9 forecast. As a result, EUR/GBP retraced during the European session, currently down 0.27% daily and weekly and 0.04% monthly.
Looking ahead of the week, key UK data releases include:
• Tuesday, December 17th 11:00 AM GMT+4: Claimant Count Change (forecast: 28.2k).
• Wednesday, December 18th 11:00 AM GMT+4: CPI y/y (expected increase of 0.3%).
• Thursday, December 19th: Interest rate decision (forecast: maintained at 4.75%).
• Friday, December 20th: Retail sales m/m.
These releases could significantly impact market movements
TECHNICAL VIEW:
EUR/GBP was in a broader downtrend but recently broke above the red trendline following last week’s impulsive move. The pair is currently retracing and moving toward the 32.8% Fibonacci retracement level at 0.8286, which aligns with the broken trendline providing a strong confluence zone. If this level is cleared, the next potential targets are the 50% Fib level at 0.8274, followed by the 61.8% level at 0.8263. Conversely, the pair could aim the previous peak at 0.8327 and possibly 0.8355. More so, price is currently trading above EMA 50. Breakout of these zones isn’t ruled out.
EURGBP: 1M PP Support Key to Avoid Further DownsideHello,
OANDA:EURGBP has driven the price upwards, and now the 1M PP must hold as support. If it fails to do so, further downside could be likely. It's important to remember that the pair is still largely under bearish influence, and maintaining a cross and lock above the 1M PP is essential to avoid more downside. Despite the underlying conditions, the current sentiment remains strongly bullish.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
EURGBP: Classic Breakout Trade 🇪🇺🇬🇧
EURGBP broke and closed above a key daily horizontal resistance
cluster on Friday.
Retesting the broken structure, the pair started to consolidate on that
on an hourly time frame.
A bullish violation of the consolidation is a strong bullish confirmation.
The price will most likely continue going up at least to 0.834
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$EURGBP Wholesale Trade IdeaWholesale Area: 0.82252 - 0.83236
Retail Area: 0.86250 - 0.85240
Average Price: 0.83353
The EURGBP currency pair is currently trading at a wholesale level with a 52-week range of 0.82252 to 0.87151. As we proceed, I anticipate initiating additional position additions at these levels.
Mon 16th Dec 2024 EUR/GBP Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/GBP Buy. Enjoy the day all. Cheers. Jim
$EURGBPGreen: Entry Point
Blue: Start of Week
Red: End of Week
Thumbs Up: Trade Available for Week
$ Amount (Numbers Above): Price Targets
Potential ABC corrective pattern located. Looking for price to retrace to the targets overtime.
Monthly CLS, AMD playing out. Longs in distribution phaseMonthly CLS, AMD playing out. Longs in distribution phase
you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion.
What is CLS?
This company is trading for the biggest investment banks and central banks. They trade over 6.5 trillion daily volume. They are smart money of the all markets.
CLS operates in the specific times which will give you huge advantage and precisions to you entries. Focus on that. Its accuracy is amazing.
Good luck and I hope this educational post helps to become better trader
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
EURGBP: Confirmed Bullish Reversal?!
EURGBP formed a high momentum bullish candle on Friday.
With that, the pair violated a significant daily resistance.
It opens a potential for more growth.
Next resistance - 0.836
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EURGBP Wave Analysis 13 December 2024
- EURGBP reversed from support zone
- Likely to rise to resistance level 0.8350
EURGBP currency pair recently reversed up from the support area set between the long-term support level 0.8210 (former support from the start of 2022) and the lower weekly Bollinger Band.
The upward reversal from the support zone is likely to form the weekly Japanese candlesticks reversal pattern Hammer, if the pair closes today near the current levels.
Given the oversold weekly Stochastic, EURGBP currency pair can be expected to rise further to the next resistance level 0.8350.
EURGBP Potential DownsidesHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.83200 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.83200 support and resistance area.
Trade safe, Joe.
EURGBP: Swing Trading & Technical Analysis
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 sell EURGBP.
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DeGRAM | EURGBP preparation for correctionEURGBP is in a descending channel between the trend lines.
The chart maintains a downward structure, but RSI is already indicating oversold on the 4H Timeframe.
The price has already reached the support level, the lower channel boundary and the lower trendline.
We expect a correction from the support.
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EUR/GBP SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
EUR/GBP pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 5H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 0.825 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Buy eurgbpDaily and h4 over sold pair
Just wait to break the trend then enter into buy after a strong confirmation
check the trendConsidering the price behavior in the current resistance range, possible scenarios have been identified. If the price breaks through the resistance range, a continuation of the upward trend is likely
EUR/GBP - 15 MINS Buy
Trading Idea: EUR/GBP Buy Position Analysis
Trade Setup Details:
Entry Price: 0.82617
Take Profit (TP): 0.82832
Stop Loss (SL): 0.82512
Risk-Reward Ratio (R:R): ~2:1
Technical Analysis and Justification:
1. Key Support Zone and Rejection:
The entry at 0.82617 was initiated near a well-established demand zone, where price previously demonstrated strong buying interest. This is validated by the large bullish engulfing candlestick near the base, signaling a reversal from oversold conditions.
Rejection Strength: The long lower wick on the preceding candles indicates significant buying pressure and rejection of lower prices, making this a strong support zone.
Confirmation: Price quickly rebounded with momentum, aligning with the trade entry near the breakout of the consolidation phase.
2. Momentum Indicators:
Dynamic Support from Moving Averages: The price climbed above the moving averages (likely 20 EMA or 50 EMA), confirming the return of bullish momentum.
ADR Levels: The setup aligns with the ADR (Average Daily Range), showing enough room for price to hit the TP without overextending into unrealistic volatility levels.
3. Risk-Reward Consideration:
The trade offers a ~2:1 reward-to-risk ratio, making it a favorable setup:
SL Placement: The stop loss at 0.82512 is strategically placed below the demand zone and the rejection wicks, ensuring protection from minor noise or pullbacks.
TP Placement: The take profit at 0.82832 aligns with a prior resistance zone, where price is likely to face selling pressure. This ensures the trade captures the majority of the bullish move.
4. Price Action Patterns:
The trade is supported by bullish price action patterns:
Engulfing Candlestick: A large bullish candle confirms buyer dominance, creating a breakout from consolidation.
Momentum Build-Up: The steady upward price movement suggests continuation toward the TP, especially after reclaiming key intraday levels.
5. Market Context:
Session Timing: The trade aligns with momentum generated during a high-volume session (likely London or New York), supporting the breakout and movement toward the TP.
EUR/GBP Fundamentals: Potential fundamental factors, such as support for the EUR or GBP weakness, may have added to the bullish bias in the short term.
EUR/GBP Sell TeaCup EntryONLY VALID IF THE ORDER IS TRIGERRED UNTIL 13.12.2024
We have a nice TeaCup Seatup in the Fibonacci Level of the 1 h Chart, there is also an imbalance that is likely to get filled before we push further Down, Take the trade out if it isnt triggered by 23:00
#007 NEW DCA EURGBP SHORT Down Channel ResistanceThe chart shown is on the 4H but it doesn't matter if its on the 1H or 4H.
Both time frames show price doing a power move toward the resistance level of the down channel.
I have been eyeing on a few pairs that has this down channel thing, one of the other pair is the AUDUSD and GBPUSD, I think.
Currently, TP is set at 71cents SGD, or 41.5pips. No I wish, I thought, I hope, I pray. No no no.
0044SGT 13122024
Talk less, even by typing because the more we talk, the more we set ourselves up for failure.
0045SGT 13122024
