EURGBP is currently sitting at the bottom of big descending channel structure. In addition, this area also intersect with major daily TF inflection point to add more confluence. It already got a little rejected from the area right now. I need to see a bigger rejection on this one before taking any entry. I will wait for a little more leg higher and a break of...
1 Hr chart already show the sign of up trend and on last Friday the price retraced to support 0.898 before started to go up again.
Switch to 4H chart I see the uptrend is going to establish with MACD above 0 level.
So the play is I catch the 1H trend by holding buy position from 0.902 with stop loss under 0.901 and hope for 4H to make N shape pattern after...
The upside movement of the pair is capped by a bearish trendline.
It attempted a breakout but fizzled out and the price action has formed an H&S pattern instead.
Hence, we expect the pair to be bearish in the near-term.
EurGbp is trading in a range with the pair being very well bided in 0.9 zone.
Yesterday the pair created a higher low on the short term time frame and a clear break above 0.91 should accelerate gains towards at least 0.9250 zone.
I will remain bullish on this pair as long as 0.9 holds
As we see EURGBP is in uptrend because of volatility in the EUR zone but here we ca see a strong resistance AHEAD
so we can enter sell here on this pair with a low risk and higher rewards
Friend help me to push like and comments it will be a great thanks
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As I said yesterday, EurGbp found strong support above 0.9 and the correction from 0.93 recent high could be over.
The pair broke yesterday above down trend line resistance and now is trading stable above 0.91 psychological support.
In my opinion, dips towards 0.91 should be bought for a new restest of 0.93
Interim resistance is just above 0.92
EURGBP has broken the channel to the upside and the market is looking quite bullish. It will be best to buy this pair in retracement. When the market goes and retests the 0.382 or 0.5 fibo watch on 4H for a long opportunity.
welcome to a new free trading-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation!
Target 1: 0,91575
Target 2: 0,91925
Target 3: 0,92460
Target for One-Target-Trader: 0,91925
Stop-Loss: 63,5 pips