The resistance line is placed at the aforementioned price because this is previous support that lasted from 18 April until 26 February until it broke and turned into a new resistance.Our recommendation is to sell because we are close to the resistance line, keep in mind that the eurgbp can also continue upward until the circle added to the picture above
The line of resistance in the weekly chart above is a line that once supported and turned into resistance, as long as the price of the eurgbp does not break this resistance and we are relatively close to the resistance price, our signal will be a sell signal
Stop Loss: 0.8645
EURGBP has been in tight range of 0.86500 and 0.84700 since 15 days. Price has created good support at this level which is important trendline support.Price is also near to 200EMA support which increase the probability of bullishness. I will wait for retracement after breakout of 0.86500....Will eneter the position at 0.86700 levels with the stoploss of 0.85400...
EURGBP Forex cross pair sell opportunity is playing out in a clear weekly and daily downtrend creating new supply zones on the way down. Weekly supply zone around 0.897 is in control, price dropping very fast once that imbalance was reached a few weeks ago.We can't and should not go long when a bigger timeframe supply level has gained control. As mentioned in...
From 8 October we entered into Rang prices with support at 0.8650 and resistance at 0.9075, The break came last week with the candle falling to 0.8525 since the price has returned to a little higher but support has broken it- is a sign for us to enter into a sell position! There are sometimes false alarms so please do not gamble with everything.
The 1-hour chart of EURGBP shows a broke out of a support level with a textbook five-wave impulse.
Currently, the price seems to be making a three-wave zigzag corrective pattern which is most likely to terminate around 38.2 and 50.0 Fib ratio that lined up with the broken support turn resistance and moving averages.
Given that the correction is...
EURGBP shows a sequence of lower low from August 29, 2017 high, suggesting further downside is likely. The bounce to 0.9105 on January 3, 2019 high ended wave (2). From there, pair declines as a double three Elliott Wave structure where wave W ended at 0.8615 and wave X ended at 0.884. Pair broke below wave W at 0.8615 and confirmed that the next leg lower in wave...
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EURGBP FOREX BREAKDOWN 13 FEBRUARY 2019
Slowly was rising towards our resistance area and reacted instantly
Instantly good reaction from our levels as predicted
Consolidating waving structure, following this move..
ENTRY @ 0.87920
SL @ 0.88270 (35 Pips)
TP @ 0.87390 (50 Pips)
EURGBP labeled in a bearish impulse in Intermediate (C) (red), the last 5th Minor (red) wave awaiting to commence.
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Many pips ahead!
Price has been in a downtrend, and just broke out of its retracement (black arrow).
Pink line would be the best to SELL with minimum risk (if the price reach there).
However, if it didn't and the price breaks the lowest blue line, it might not go to the pink line anymore.
This could signal the start of a downward movement to the yellow zone, which is my TP...
I open sell position on EURGBP at 0.8784. SL 0.8813 because pair can go higher and make another higher extremum near 0.8800
TP1 - 0.8748 RiskRewardRatio - 1.3
TP2 - 0.8726 RiskRewardRatio - 2.0
TP3 - 0.8711 RiskRewardRatio - 2.5
Off course i will close profit position manually if i'll see somithing wrong.
If EURGBP going lower - you need to see EURUSD and GPBUSD...
EURGBP has hit its previous April 2018 low.
i am expecting a horizontal pullback where it
could potentially reverse to its support at
EMA 200 & EMA 21 are both in the sell zone so
Watch out for the break in the RED trend line
as this could leads us back to
its support of 0.87657
See previous analysis
PLEASE SUPPORT THE MOVEMENT...