The primary trend of EUR/GBP is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7665 and support at the level of 0.7525. If it breaks its resistance...
FX:EURGBP Correction exausted with an ABC, eventual wave 3 on sight, ready to engage on lower time frames ;) BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8%...
FX:EURGBP Already completed (or validated), but with extended ground for a visit to 618 retracement, synced with the 161% extension also previous monthly and weekly resistance, now support zone, or pressure zone @0.74914; CRAB Point B: 38.2% to 61.8% XA Point C: 38.2% to 88.6% AB Point D: 161% ext XA 224% to 316% ext AB Target: TP1 61.8% CD TP2 127% CD Safe...
Looking at the 200ema, its clear that the market is in a very strong uptrend. There are few pull backs but still ithe market does not look to reverse any time soon. I am take a long trade on this targeting 30 pis. I have a good feeling abou this.
As long as the EURO remains elevated and pressure is on the GBP I see no reason why the technical breakout of 7500 resistance won't continue up to the next area of confluence I will be placing stops below the last swing low. learn to trade like a pro bankonadam.com
Detailed addition to the Global layout of the EURGBP currency.
If the corrective ABC is to complete at the equidistant trendline support, there may be opportunities for short term scalping to the upside.
Price has consistently remained above the support outlined in the chart and has broken the diagonal trend line. RSI is also giving a bullish signal. Stop has been placed below support area as well as trend lines
As you can see from the explanations on the screen we are lining up for a possible bullish setup on EURGBP. It really depends on specific price action and candlestick analysis
So, FX:EURGBP is in a ranging market, and I see a good long opportunity here. We have flag pattern with structure support confluence (see red zone), which is a strong wall for this pair right now. We can involve in this setup in two ways: 1. Buy on breakout (it is a better choice) 2. Buy at support red zone And our target 1 will be @0.7355, Although, if the...
Great Opportunity on EUR/GBP. Very high probability trade. Price is in consolidation zone zone, where there is a support at 0.7262. Bat pattern appears, with an amazing risk/reward. T1 - 38.2% T2 - 61. 8% Note: Avoid trades on high impact news. NFP coming today.