We received 3 consistent rejections at our resistance.
The daily candle on the Monday formed a hanging Man.
The daily candle on a Tuesday closed as a bearish engulfing.
A Wedge pattern has occurred on smaller time frames.
#EURGBP has reached a strong resistance, it is likely that the price will go down.. After retracement to support line, long setup can be evaluated.. We will wait and see..
Disclaimer: Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
EURGBP is forming descending triangle pattern after giving a good upside rally . Descending triangle pattern is bearish pattern which indicate that,we might see downside in EURGBP towards the support level indicated in chart. trade for short side can be rewarding with tight stop loss as volatility is high in pair. trade for short side with proper risk management...
Since early April EUR/GBP has been stuck in a 200 pip channel. Currently price is pushing the upper line of the channel and this week we saw WR1 pivot taken out and price reaching WR2. RSI readings on all time frames are over 60 other than D1 (58) and M15 is reading 70. The Daily R1 pivot is at .8873 which is 10 pips from where we are now. GBP is generally...
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EURGBP is trading in a rising wedge pattern. It has tested a long term resistance line but failed to give a breakout from the resistance line, so we think it might reverse from the current point towards the support, which will be the first downside target for EURGBP. One can initiate the short side trade at the current level with a stop loss just above the...
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EURGBP IS CURRENTLY ON RESISTANCE LINE
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short-term target at 0.8844 reached on my last roadmap analysis (link attached below!), here's the plan if 0.8844 resistance level respected by price and seller manage to push the price to go down
Plan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish...
EUR/GBP has shown us that bulls does not have enough strength to break through the key resistance. We expect that price will go down to continue parallel channel pattern.
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As we can EURGBP reached it resistance level @0.8832 and what we can see now is a nice rejection off that level. What we can do now is enter a short position where we have to be aware of an important support level @0.8730. Price Level can also been see consolidating around this support and resistance level. We could see a potential bounce off this strong support...
Since the end of March, EURGBP has been locked in a 180 pip range flag. We've just seen the top of this flag rejected and with WR1 pivot in this area it seems unlikely that we'll see price move higher any time soon.
I'm in SHORt at the top of the flag at .8800 with a 20 pip STOP. We should see a move down to the bottom of the flag now at .8700 area. If this level...
currently, we are seeing price consolidating after touched the daily demand zone while on my previous analysis (link attached below!) our setup hit the final target for long trade, we might have a chance to go long again if buyer manages to push the price to the 0.8844 resistance level for a short-term target. wait for confirmed bottom formation before placing any...
