It appears that EUR/GBP is changin it's direction since it hit the 0.88 area. The RSI shows that the strenght of the trend is becoming bullish, the 50 period moving average is crossed and it's now functioning as a support for the price. Grafically it appears that an uptrend channel is likely to take place.
Since beginning of 2016 the value of the £ GBP has fallen 21% against the EUR from 1.4 EUR to 1.1 EUR to the GBP £. The short term future of the GBP against the EUR does not look good and will likely see UK holiday makers going to other countries with different currencies simply to get away from the EUR.
Looking to play the EURGBP back up to resistance as we can see signs of demand entering the market at the support. However we have a key resistance zone right above prices and we can get some supply coming into the market at or near the resistance zone. Fundamentally we may see a weaker pound as recent brexit divorce negotiaions were unsuccessful.
Hello everyone. GBPEUR probably finishing its retracement very soon meaning a short trade is possible. - If this pairs bullish momentum continues, wait for retracement onto the red line and then look for a confirmation for a potential long. - More likely to become a long due to the bullish data that has been released today. May or may not update this, do not...
SHORT Based off previous structure (support & resistance), a descending channel, Fibonacci confluences, fundamental analysis and psychological analysis (interpreting what other market participants will do).
Short opportunity off last years high .92250, EURGBP is likely to retrace towards previous support at .875, which will serve as our first profit taking opportunity, with a secondary target at .84 Trade idea is confirmed by a greater than 70 reading on the RSI, an overbought signal. SL: .925 Entry at: > .91 TP: .875/.84 Best of luck TW
So greenback short players finally reached for the level of 92.50, staging breakthrough of 1.19 on EURUSD. In our view these moves are a signs of dollar bottoming out as investors adjust their portfolio with fine-entered greenback longs as the updates on US economy is slowly but surely beginning to improve. The US consumer pleased us with increased expenditures,...
Take note that this is based on the weekly and monthly time frame, so that smaller time frames can still move up Time for a long term view on EURGBP on the weekly and monthly time frame. Whats very interesting about these time frames is that both shows a bearish wedge and are close to a resistance. Besides that the monthly also shows a possible double top. This...
On the 4 hour time frame for EURGBP we can see a very nice Elliot Wave structure. Currently we are in the 4th wave of a bullish Elliot structure. Its most likely that this wave down will approach the lower range before bouncing back up into its final 5th wave. On Stoch we also have a nice bearish crossover and the ADX shows a bearish claw. Supporting a down move...
Dbl top formation candle (tail) 01-16-2017 @ 1.1301 Set alert: GBPEUR @ 1.0809 "Weekly dbl top confirmation" Target 1.007
Hi guys, Here EURgbp longterm.
we can sell eurgbp we have good supply zone .
wait for harmonic and follow price to support area
Having taken a big backstep against the pound this week following the announcement of a snap election by the UK, I believe the Euro could take a bounce back towards the top of the range (.87), should the French elect centrist Macron, most likely in a second round on May 7th. Tight stops below most recent lows of .83, likely big volume coming in the next few weeks.
SHORT TP 1 - 30 TP 2 - 60 TP 3 - 100 PIPS