ICmarkets

EUR/GBP: Technical outlook and review.

FX:EURGBP   Euro / British Pound
61 0 1
Weekly Timeframe: Price is once again seen trading around a huge weekly demand area coming in at 0.76931-0.78623. We have to be honest here, considering only the weekly timeframe for a minute; we would be very worried if we were buyers, as this demand area is not exactly showing any bullish strength at the moment.

Daily Timeframe: The daily timeframe shows that price is currently trading within a daily decision-point demand area seen at 0.78468-0.78986. This area is very important in our opinion, so much so that if price breaks below this here, the path south would likely be clear for the sellers to test a daily demand area seen at 0.77507-0.77772, which is conveniently located very deep within the weekly demand area mentioned above at 0.76931-0.78623.

4hr Timeframe: Something beautiful may be forming on the 4hr timeframe. There is a fantastic-looking 4hr demand area at 0.78468-0.78595 (active buy orders are seen just above at 0.78616), which remains untouched for the time being. However, the beautiful thing about this chart is how price is moving towards this demand area. Check out how each time price makes a lower low, we then see a return to collect any unfilled sell orders that may have been left behind (marked with blue arrows). This does two things, it allows pro money to keep pushing price south using the unfilled sell orders, but at the same time it also clears the path north for future buying, which in our opinion is a perfect approach to a fresh demand area.

Buy/sell levels:

• Buy orders: 0.78616 (Predicative stop-loss orders seen at: 0.78444).

• Sell orders: N/A (Predicative stop-loss orders seen at: N/A).
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out