After the strong rally at the beginning of September, EurGbp corrected and consolidated for more than a month now.
The pair seems to have found strong support just above the important 0.9 zone and now looks ready for a new leg up.
Dips should be bought for this pair and bulls can expect 0.93 as a target.
A daily close under 0.9 would negate this outlook.
It has reached lower side of the support level and unable to break the level and forming a nice triangle pattern. And the negative brexit headlines
are supporting the long for EUR.We can expect the price will reach 0.91320 which is the trend line resistance zone. If the price broke to the downside then
we can expect massive downward rally.at the time of...
Hello Friends! I hope "EURGBP" will go Short 'Sell' and touch S1 then some correction. After her correction, it will touch S2 and S3.
Are you have any questions, suggestions, or feedback? Then write on comment or privet chat. If you need any help, info, or analysis. Then knock me without any hesitation.
The drop from 0.93 to 0.9 zone is clearly corrective in nature and after piercing through 0.9050 support, the pair reversed and looks like is resuming its up move.
EurGbp is facing a confluence of the trend line of the flag and horizontal resistance and a break here would accelerate gains for a new challenge of 0.93 recent top.
A dive back under 0.91 would put the...
EurGbp had a good run from 0.8860 to 0.9300 and after this a correction was normal.
This correction seems to be a simple ABCD pattern and I expect a new leg up from this pair
Dips above 0.9 should be bought and 0.9250 zone could be the target
On political front the cable has loses some earlier gain against its counterpart Euro. Though the selling of Euro has happened due to the overbought condition on many euro pairs such is EURUSD, EURJPY, EURCAD
This pair is currently trading at the upside trend line resistance. Once this tree broken we can buy this pair up to 0.90800 which is a previous...
The counter is now on the verge of completing a 3-wave bear cycle.
It is now approaching a strong demand zone which also coincides with the 61.8% retracement of the entire rally.
We expect the pair to kickstart a fresh bull cycle from here.
The counter is currently consolidating in a wedge pattern.
It hit the lower end of the range, formed an exhaustion candle and rose up sharply.
Now, it is sliding to a demand zone where we expect buying activity to resume in the counter.
EURGBP is approaching the support level. As long as price stays above the 0.89 level, the uptrend can resume very soon.
Price is also above the 100-day EMA, which means that the uptrend is still intact.
Buying at the support level that I have highlighted in my chart and targeting the 0.9150 level would be a good idea for the buyers.
EUR/GBP has seen some choppy movement over the past couple of weeks, with price seemingly breaking to the upside and then reversing to the downside.
Taking a step back, on the weekly time frame price action still looks quite bullish, with an ascending trend zone stemming from the lows of 2015.
On the daily time frame, it could be argued that price is currently...