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GBPEUR trade ideas

EURGBP / Critical Volume Signals and Key Price LevelsTechnical Analysis: EUR/GBP (4H Chart) Current Price Action: The EUR/GBP pair is trading around 0.84722, near the pivot line at 0.84915. Key Observations: 1. Primary Support and Resistance Levels: Primary Support Line (Monthly): 0.83977 Primary Support Line (Yearly): 0.83393 Resistance Line: 0.85728 2. Supply Zone: - A sensitive decision area characterized by high volatility is identified around 0.85204 to 0.85394. 3. Support and Resistance Areas: Secondary Support Area: Around 0.84265 Resistance Area: Around 0.84915 to 0.85204 Scenarios: Bullish Scenario: Breakout Above Pivot Line: If the price can break and sustain above the pivot line at 0.84915, it could aim for the resistance area around 0.85204. A further breakout from this level could see the price move towards the supply zone and potentially higher towards the resistance line at 0.85728. Support from Rising Trend Line : The ascending trend line providing support suggests continued bullish momentum if it holds, potentially pushing the price higher. Bearish Scenario: Failure at Pivot Line: If the price fails to break above the pivot line at 0.84915, it could retreat towards the secondary support area around 0.84265. Downside Targets: Sustained bearish pressure could push the price further down to the primary support lines at 0.83977 and 0.83393. Today's Expected Trading Range: - The anticipated trading range for today is between the support level at 0.84265 and the resistance level at 0.85204. Pivot Line: 0.84915 Resistance Levels: 0.85204, 0.85394, 0.85728 Support Levels: 0.84655, 0.84576, 0.84265 Summary: - The EUR/GBP pair is currently at a critical juncture near the pivot line. A breakout above this level could signal a bullish continuation towards higher resistance levels, while failure to hold this level could see a decline towards key support areas. The next week's direction will be heavily influenced by the price action around the pivot line and the supply zone. Direction for the Next Week: Bullish Direction: Likely if the price breaks and sustains above 0.84915 and moves past 0.85204, targeting 0.85728. Bearish Direction: Possible if the price fails to break the pivot line and drops below the secondary support area at 0.84265, targeting 0.83977 and potentially lower to 0.83393. ------ There is also... Analysis Based on Volume Order Book (Expo) for EUR/GBP (4H Chart) The Volume Order Book (Expo) on the EUR/GBP 4H chart provides insights into the liquidity and potential price movement based on the distribution of orders. Here's a detailed analysis: Key Observations: 2.High Volume at 0.84915: There is a significant volume of 11.458M at the price level of 0.84915, which acts as a strong pivot point. This indicates that a lot of trading activity and interest is concentrated at this level. 2.Volume Clusters: Above Current Price: There are notable volumes at 0.85204 (5.866M), 0.85394 (4.434M), and 0.85728 (5.857M). These levels act as resistance where selling pressure might be strong. Below Current Price: There are significant volumes at 0.84655 (3.426M), 0.84576 (2.918M), and 0.84265 (2.647M). These levels act as support where buying interest is likely to be strong. Directional Bias: Bullish Indicators: Pivot Line Strength: The large volume at 0.84915 suggests that if the price can break and sustain above this level, it may indicate strong bullish momentum. Support Levels: The accumulation of buy orders below the current price indicates strong support around 0.84655 and 0.84265, which can provide a solid base for upward movement. Bearish Indicators: Resistance Levels: The substantial sell orders above the current price at 0.85204 and 0.85728 suggest that the price may face significant resistance, potentially limiting the upside.
Short
by SroshMayi
Lingrid | EURGBP pullback TRADEFX:EURGBP is currently trending within a downward channel, and the price has made a retracement towards the resistance level after bouncing off the support level and experiencing an impulse leg down. To short the market, I'll look for a fake breakout of the resistance zone. If this occurs, I expect the price to drop down, taking liquidity above the recent psychological level at 0.85000. My goal is to support levle at 0.84065 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
2
BUY EUR/GBP at market .8460 (again!!!)Ever since this pair opened with a gap (see chart) on the 24th June, I've been BUYING this pair in anticipation of the gap closing. Markets hate gaps and will try to close them. Usually when a pair open with a gap when the markets open, the gap is closed and then price will continue in the same direction as the gap. Examples of this can be seen on EUR/USD and EUR/CAD, both of whom opened with a gap. With both these pairs, the gapwas closed and price then dropped. I expected EUR/GBP to follow this pattern but it has yet to close the gap after 3 weeks of trading. As can be seen by the channel drawn, EUR/GBP remain in an uptrend. WR1 (weekly Resistance 1) at .8471 remains an obstacle to EUR/GBP BULLS. This level has been reached 3x this week and each time the price has reversed. I've closed my LONGS whenever the price hit WR1 and opened a position SHORT once it was confirmed that WR1 was holding. I'm back in LONG on this pair with STOP under the lows and under the 200 EMA on H1. Target is the closing the gap at .8490. It seems unlikey we will get anywhere near .8490 today and news at 13:30 is unlikely to move this pair much (US Core PCE Price Index).
Long
by forextraplaces
Trade Signal: Sell EURGBPAttention, traders! We have identified a potential selling opportunity for the EURGBP currency pair based on our analysis and the EASY Quantum Ai strategy. Here are the details of our trade signal: Direction: Sell Enter Price: 0.84682 Take Profit: 0.84555333 Stop Loss: 0.84780333 Reasoning: Our forecast suggests a downward movement for the EURGBP pair, influenced by several market factors: 1. Technical Analysis: Our EASY Quantum Ai strategy has detected bearish trends in recent market data, including lower highs and lower lows, which indicate a potential sell opportunity. 2. Economic Indicators: Recent economic reports from the Eurozone show weaker growth compared to the UK, increasing the likelihood of the Euro depreciating against the Pound. 3. Market Sentiment: Current sentiment in the forex market shows a preference towards GBP due to stronger investor confidence which aligns with our bearish forecast for EURGBP. Please monitor the market and ensure all risk management protocols are in place. This signal is generated using the proprietary EASY Quantum Ai strategy, which leverages advanced algorithms to identify profitable trading opportunities. Happy Trading!
Short
by ForexRobotEasy
EURGBP - SellThe EURGBP pair has been on a rollercoaster ride lately, but I'm taking a calculated risk by selling EUR/GBP. Here's why I'm leaning towards a stronger pound: Diverging Monetary Policy: The European Central Bank (ECB) is taking a dovish stance on interest rates to combat slowing economic growth. This contrasts with the Bank of England (BOE) which might be considering raising rates to curb inflation. This difference in interest rates could weaken the Euro relative to the Pound. Brexit Bargaining: The post-Brexit trade deal between the UK and EU continues to be a point of contention. If negotiations sour, it could lead to uncertainty and potentially weaken the Euro. Trade details are as follows: Entry: 0.84657 Profit: 0.84046 Stop: 0.84895 1:2.5 trade targeting 60 pips.
Short
by xrpbilbs
1
Lets push upcheck out some of my ideas. also I don't take every trade idea that you see here these are assumptions before price action completes and confirms. The point of my ideas are to predict price action everyone knows that's next to impossible but I'm having fun. I am not a professional trader nor am I technical . all ideas are based on what I understand price to be. when I see certain confluences that aligns with my trading strategy, I then look for my opportunity to enter trades. Good luck and happy trading
Long
by THE_APIS_TRADER