Bulls' rally of the Eur vs. the GBP, price action has encountered some resistance at the 200MA as expected. In case the uptrend momentum can continue its bullish bias, a buy-stop entry is placed above the SMA, which is working as a dynamic resistance onto the price action. A second buy entry (as limit) can work right at the support line form the uprising channel....
Although this entry is in a bearish correlation with my short GBPNZD, the British pound keeps trending lower. Expecting that price action tests back the secure demand zone for an uptrend continuation, supported by MACD bullishness for a long entry. The setup allows a decent R:R | 1:2 with an S/L fro 24 pips and target right at the next resistance level with a...
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Our forecast for the next week on EURGBP ------ Trading Kitchen
EUR/GBP closed below the key level on Friday, which for me is a bearish sign. I remain bearish on this pair until we are below the area on daily closing basis
EUR/GBP is very bearish and I think we will stay in this scenario until key level is hit.
Hi, i am expecting USDCAD to go short for 200 pips as you can see i have made my analyses. thank you
EUR/GBP broke the consolidation area and right now it is retesting it as new support. I expect the price to push up and generate new hourly highs.
As EUR/GBP is still in an uptrend, I am considering this as very beautiful buying opportunity with low risk and big potential profit.,
Waiting for price action to come back to retracement level.
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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Nice trading opportunity for sell entry. 0.88140 Level should be hit as previous support now turned resistance before further up-price.
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...
Eurgbp - Daily chart - I see price bouncing from a daily demand zone so looking to take longs on retests of hourly demand zones.
- Previous level of resistance broken - Above resistance - High Bullish pressure - after complete 50 or 61.8% retracement - wait for confirmation => BUY
X FORCE GLOBAL ANALYSIS: In this analysis, we explore the bullish probabilities of EUR/GBP based on the bullish evidence suggested by technicals and fundamentals. Technicals - We have seen a breakout from the bullish falling wedge pattern - After Elliott Triangle Wave (ABCDE) counts to Wave E, we formed a double bottom - The Relative Strength Index (RSI)...