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British Pound / Euro

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GBPEUR trade ideas

Sentiment Play Before Major Events (Past)Fundamentals & Sentiment EUR: - Recent economic data has been bullish, driving the euro up GBP: - Raised taxes - bearish in the short-term for the pound - Recent bearish economic data Technical & Other Expectations - after such a runup, the technical area is good for taking profits, especially before NFP on the same day and the US Elections next week. Setup: S(B) Setup timeframe: 1h Trigger: 1h Medium-term: Up Long-term: Down Min target: 50% of the upward move Stop loss: 0.26% Position size: 0.66 of the normal Risk Unit
Short
by Cherry94
EURGBP with two probabilities for 11/1/2024This is my idea Nbr 24 after 20 ✅️ EURGBP with a high probability to make the decision for 11/1/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
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 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