Classic Elliott wave 12345-ABC Time to take profit. Then re-buy near Demand zone. See below confirming my assumptions chart.
Trading idea and price prediction for Euro Fx/British Pound (FX:EURGBP) from trader Nika Lekishvili www.tradingview.com GL !
Hello everyone! SELL after 0.85311 TP +50-80 Pips Good luck (y)
Looks like some confluence around a break of the Fib 38% retracement level and break of the downtrend channel indicates a short sell off the back of a weakening Euro and slowly stabilising Pound.
Over the past couple of days we've had some mixed feelings about eurgbp but so far i think shes giving as much signals as possible , if indeed we are to break out , the day is today (I have to admit it though , that uptrend force is scary to think about while short at this pair , but oh dear trading wisely is the key.
PPP Propably a Bulish cypher pattern and likely double top and a bearisch channel
A nice Gartley pattern on the 1 h frame on eurgbp .
Wedge pattern broke, the continuation of the trend must carry on moving, I believe the trends movement would be slightly bullish as the euro is gaining strength. I have placed targets of where the trend may roughly go. The current potential bullish wedge may be giving the trends formation in where the type of movement would be directed. Current point:...
BREXIT fever has hit the world of forex. I suggest these are the big three to watch: GBPUSD, EURUSD, and GBPEUR (or EURGBP). There is a macro-psychology operating out there I suspect. In times of trouble and uncertainty human nature tends to take the safe position. Hence Sterling has taken a step down for the moment because the reality is that 'everybody' wishes...
Confluences: 1/ trend 2/ PA ( high test followed by inside bar ) 3/ Monthly & Weekly resistance of 0.7060 4/ 50% fib retracement additional info: * H&S - pattern on intradays * a lot of traders are already short since the 0.7135 resistance test