EURGBP / REBOUND? No change from our point of view, the expected rally should be considered as a corrective structure (technical rebound), and then we expect a new bearish leg.
This pair has done a good enough trigger, and if this repeats with the same pattern then the trend will continue and the target will be achieved. Wait for high volume raising and high upward price spreads such as more or less happened in the first pattern, so this would be a valid pattern to buy.
EURGBP is still falling! Here's a downward channel trade with potential 40 pips for the conservative, 110 pips for the brave if you take the 2 trades. Follow @Bizlus
An inverted Head and Shoulders just completed on EUR/GBP as well as breaking the current down trend. Looks like a good opportunity for a long.
I think it will test higher low before moving up , this is a quick trade R:R 1.7 SL@.88243 TP@0.87501
Hi there, EURGBP is ready for the next big move up according to the information I have right now. We finished the correction, now going for the next impulsive move up. My plan is to wait for a correction on the smaller time frame, then I'll strike for the buy. This move has a potential of couple hundred pips. MisterRay
This morning we saw a close of a Bullish Engulfing which was followed by a slight rejection just above the monthly resistance level of 0.89430 . The EUR has continued this fall this evening however it being a Friday can produce unpredictable signals, we may see that the Bullish Engulfing does prove to be a turning point of the short downtrend this afternoon...
EURGBP Price was Re test, Time to take SHORT
Keep an eye on the EURGBP daily chart as there was an important rejection from the 50% fib level that suggests more downside if the market can hold below that level. This presents the possibility of breaking below the previous low at 0.8738 and then moving much lower from there.
After forming a fakey bar on the daily time frame, this Forex pair took me out of my trade just to have another price rejection in which I did re-enter again a long trade. For four trading days, this pair has been going on sideways which was slightly tempting me to close the trade at Breakeven,.. not closing it was a good decision. Plus I also noticed the inside...
Our preference: position bought above 0.8815 with targets at 0.8875 & 0.8900 in extension. Alternative scenario: in break of 0.8815, a continuation of the decrease will be envisageable with 0.8780 & 0.8760 in line of sight. Comment: The RSI is losing its bearish momentum.
Our preference: position bought above 0.8830 with targets at 0.8860 & 0.8880 in extension. Alternative scenario: in break of 0.8830, a continuation of the decrease will be envisageable with 0.8815 & 0.8800 in line of sight. Comment: A support base of 0.8830 was formed and allowed temporary stabilization
Suddenly found this nice long setup. Everything is looking almost perfect. Just a small retracement/pull-back needed. So, wait for the entry, don't rush. Patient will prevent you from getting hurt. My Facebook Page: web.facebook.com