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.
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Entry at market 0.9008 Stop at 0.895 Target towards 0.9125
Daily timeframe EURGBP has formed an ascending triangle pattern which tells us a potential buy after resistance breakout and retest.
It can go all the way for new highs.. All higher time frames are bullish!!!! I think it can go 0.98 and even high!!! As far as 0.8936 holds... It will go up
Structure broke and is retesting to a critical level. Forming not a convincingly strong but viable cup and handle structure.
If we break above and close on top of the 4 hour level, we'll see a continuation to the daily, possible minor intra-day pullback before continuation.
After dismal data from Britain, EUR/GBP was off to the flyers yesterday. It could be interpreted as a wave pattern and is now forming wave 4. Further, it is close to a congestion zone which could act as strong support. Hence, we expect the pair to be bullish in the near-term.
Price is below the 50EMA & the Daily Resistance Zone with so far alot of buying pressure coming in for all of the EUR pairs. Reason For Entry- Double Bottom, followed by Engulfing Candle indication of the counter-trend opportunity to go long SL- 43PIPS🛑 TP- 43 PIPS✅ TP2- 86 PIPS✅
Price has indicated that it will come back up and retest resistance before taking a drop - If youre in a sell you may want to watch and hedge your trade
On the 15 minute, we have a hammer candle signalling a reversal. Also meets the 61.8% fib.
The counter is currently in an ascending channel pattern. It fell off recently from the high to lower parallel, where it found support. Now, it is marching up with momentum indicators like MACD and stochastic on the verge rendering a bullish crossover. Hence, we expect the pair to be bullish in the near-term.
We are looking at a great buying opportunity at EUR/GBP to complete the right shoulder of simple market pattern. I think it's very accurate giving the fact, that the price currently approached a strong demand area, from where the price should make pullback.
Price has broken resistance on the H4. We are no waiting for price to retest its new broken structure. We'll want to see support formed before taking buy entries.
Pending order Buy limit SL at 0.90781 TP1 at 0.91197 (RR 1:1) use Trailing Stop TP2 at 0.91500