1. I found a Elliot Wave pattern creating the 4 to 5 wave.
2. The retracement is finishing, the price was rejected at 50% of Fibonacci.
3. Tweezers candles a 50% Fibonnaci In 4 hours and a inverted hammer in 1D.
4. We can expect a sell the next days.
EURGBP
Timeframe: 1D
Direction: Long
Confluences for Trade:
- Stochastic in Oversold momentum
- Widening gap of EMAs
- Price action at a Horizontal Support Trendline (Since April 2018)
- Price action for EURGBP has been trading within the Parallel Channel and it is currently at the Lower-End of the Channel
Suggested Trade:
Entry @ Area of Interest...
EURGBP
Timeframe: 1D
Direction: Long
Confluences for Trade:
- Waning bearish momentum
- Stochastic Oversold momentum
- Price action bounced off a Horizontal SupportTrendline
- Fundamentally, weakness in the GBP is explained in the GBPUSD post in Related Ideas and the impact of Brexit will be more extensive for GBP in comparison with EUR.
Suggested...
EUR/GBP approaching a very well respected level of support on the Daily time frame.
Looks to me like the bottom is in, LONG on this trade.
Thanks for checking out my idea, let me know what you think?
The price is at key support level. If price breaks below the 0.8620, I'll be looking for short trade or if price gets rejected from that level - potential long trade.
EURGBP SELL BELOW 0.8620
SL 0.8690
TP 0.8400
www.trade-insider.com
as you can see in the graph above we have a Double Bottom model (pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between) If there are no surprises, the price will climb again!
Our recommended:
Buy EUR/GBP
Entry Price: 0.8710
Stop loss: 0.8640
Take Profit: 0.8820
We've got the breakout, now let's wait for the pullback to get a better entry.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
I see bearish rising wedge formation also rsi and macd histogram shows bearish divergences on 4h chart for EUR/GBP.
If inclined support is broken, we will have a chance to scalp EUR/GBP.
Profit Targets:
0.88775
0.88610
0.88400
Stop loss:
0.89500
Have a nice day,
Berk
Flash-back:
I called the previous big drop:
Down-trend unfolded with overlaps.
Elliott Wave Analysis
EUR/GBP labeled in an Intermediate degree (A)(B)(C) (red) sequence.
Patterns:
- Running Flat in Minor B (blue), sub-wave of Intermediate (A) (red)
- Expanding Flat in Intermediate (B) (red)
1 - Expecting a pull-back and then a last drive on the...
If we break upwards of the triangle forming expect to move higher. If we break and close below the support area in green, price will fall to the targets.
EURGBP
Timeframe: H4
Direction: Short
Confluences for Trade:
- Waning strength in bullish rally
- Price at Horizontal Resistance
- Likely to Breaking S/T Trendline
- Stochastic Overbought momentum
- Fundamentally, both nations have internal issues that have yet to be solved, it really depends on timing on the events release; do note that EU will comment...
![EURGBP: [Signal] EURGBP: Bounce of Parallel Support](https://s3.tradingview.com/y/YlVB3xFQ_mid.png "[Signal] EURGBP: Bounce of Parallel Support")
![EURGBP: [Signal] EURGBP: Covering of EUR shorts a Big Possibility](https://s3.tradingview.com/v/VvLzJlYe_mid.png "[Signal] EURGBP: Covering of EUR shorts a Big Possibility")
