The counter has been in a steady decline for the last 3 months. Now, it has hit a strong support level which could trigger some profit booking. Further, the stochastic indicator has given a buy signal by crossing over from the oversold zone. Hence, we expect the pair to be bullish in the short-term.
Remember two days ago I posted the EURGBP would renounce? The trade is running for 40 pips in profit now! Further, the BREAKING NEWS reported by BLOOMBERG ONE MINUTE AGO says that UK ECONOMY TO SHRINK THE MOST IN 300 YEARS IN 2020 - this fundamental news would certainly push the trade further to 0.9000. There is a retreat now on the 4H, best time to enter NOW!
This pair is pulling back in an uptrend, will be monitoring for an entry on the smaller timeframes 😎
So looking at the 1H chart 2 days into the week, I am pleased to see that my analysis seems to be paying off so far. I updated the trend lines to represent the most relevant market information. This update shows a steep descending channel which is a good reversal pattern. This only solidifies the bullish move that is to come. Now I want to go a little bit...
EURGBP curently at a support level, broke a trendline then retested...could see a possible push to the upside
Hello Traders! ------------------------------------------------------------- 🚀BUY Execution according to the market.
This is an educational + analytic content that will teach why and how to enter a trade Make sure you watch the price action closely in each analysis as this is a very important part of our method Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Price is testing a key supply and demand level on the daily timeframe and has been moving correctively in a descending channel for a few weeks now. The market has now tested this area twice recently on the H4 timeframe and is showing signs of holding. If the market holds at this level, we could finally see a swing to the upside, breaking out of the descending...
So the market has been live for a few hours now and if we take a look at the 4H chart, we'll see that the market continued to move down correctively, just about to make a touch on the bottom of the Daily's ascending channel. Zooming in further to the 1H chart, we are starting to see a lot of resistance if we take a look at the candles that are forming around...
Hey all! I hope your weekend was superb, now lets get back to making money! We are going to execute a EURGBP long in the early Monday market open and the reasons are, - GBP looks weak vs USD and other pairs (IMO) - RSI is low and meets our entry cretaria (with the fibs) - Price is at the 38.2 / 30 support zone and already rejected it ones - The bearish trend is...
So my last idea about EUR/GBP was showing a couple of descending patterns which indicate a bullish move is probably in the works. However, I felt like my analysis was missing something. This is my first time analyzing the markets in over 9 months and while I still remember the textbook analysis methods, I'm still getting used to identifying what phase the market...
A crucial BULLISH candle today show us that this consolidation phase is yet to be broken yet. However, we should still look out for a breakout of this trend when we trade this BULLISH movement. Any form of rejection off this trend resistance may show that the BEARISH movement may continue eventually breaking this strong support zone (green zone). As of now, I am...
EG impulse wave 30 min chart forecast.
EURGBP is currently rejected from at the bottom of big descending channel structure. In addition, this area also intersect with major daily TF inflection point to add more confluence. Its now already forming a bullish pennant continuation pattern. I will take a long trade with the break of this bullish pennant with sl below the structure and target up to 0.94800....