EURGBP has rallied up yesterday from A TO B, thanks to BREXIT.
And this is only its second wave up for a correction beneath the bearish bowl.
It will test 0.88 later by 3rd WAVE from B TO C.
Or lower position like E COULD happen if sellers are gathering together to pull it down .
Less is more!
EUR/GBP ignores Doji formation at 50-DMA.
Resumes weakness below 50-DMA.
Scope for test of 200-DMA at 0.8859, further weakness only on break below.
Next major support below 200-DMA lies at 61.8% Fib at 0.8824.
55-EMA is immediate resistance at 0.8933. Break above 21-EMA required for further upside.
Good to go short on upticks, SL: 0.8960, TP: 0.8875/ 0.8860/ ...
Hello Traders!
As we know Brexit has put the market into Major Up and down consolidation mode! we can clearly see a strong Side of the bears in a Downtrend. With a great V formation setting us up for a breakthrough to create a LL. lets see how How low with our targets Set out.
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Trade Away!
Trend; DOWN
Strength; Strong
Status; Trend continuation
The pair is in a downward trend. Waiting for a retracement at 0.8930 or the downward break of 0.8875 to go short.
ENTRY; 0.8930/ 0.8875
TARGET; 0.8861 & 0.8815
STOP; 0.8952
Only the upward break of 0.8952 will invalidate the trade.
GBP traders may need to see what the outcome of the Parliament Brexit votes before chasing a move in EURGBP. Today in Asia, GBP is trading 0.15% higher against EUR.
Looking at the weekly EURGBP chart, the cross traced out a medium-term price top near 0.9100 in August 2018-2018 via the formation of a double top pattern. The downtrend is set to reassert itself as ...
Support broken.
more downside to go.
1 month of range would expect bigger movement.
this is just the start.
so long as price do not break above 0.896, we are safe.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading ...
Trade Alert
This is a short-term idea.
Finally, the range has been broken to the downside and the pair already has made a re-test of the lower side of it from underneath. The pair failed to get back inside the range, so this makes us believe we could see some more downside.
The only problem here is the EURGBP itself, as the pair likes to surprise traders and it ...
EURGBP have found Triangle H4 and Daily.
We have some Scenario EURGBP sell.
Scenario 1: Sell EUR to GBP (Short) at 0.8960, SL 0.9060 and TP 0.8870 (TP1) and 0.8835 (TP2).
Scenario 2: Sell EUR to GBP (Short) at 0.8985, SL 0.9060 and TP 0.8870 (TP1) and 0.8835 (TP2).
Lets See
Happy Trading
Smart Trading
Money Management
Disclaimer On
Hi there. Price is moving impulsively from the top of the pattern. If you are not in, wait for the price to form a continuation pattern and watch strong price action for sell. Just be careful trading pound pairs, tuesday is parliament brexit vote day, price can go up or can go down. So, be careful.
EURGBP WAITING FOR SHORT ENTRY
***NOTE: All of my plans, you have to patient to wait for the price come close to the EXPECTED ZONE. At that time, you should be at your desk to WAIT FOR REVERSAL CANDLES or PATTERNS on the low timeframe and then OPEN ORDERS.
The Euro vs. the British Pound. This pair represent a cross between the two largest economies in Europe, the Euro Zone and the Unites Kingdom. The pair is greatly less volatile than other Euro or Pound based crosses because of the economic closeness and interdependence between the two. Changes in monetary policy between the Bank of England and the European Central Bank can make this pair extremely sensitive.
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![EURGBP: EURGBP Bearish [Triangle]](https://s3.tradingview.com/6/6AOpwvuH_mid.webp "EURGBP Bearish [Triangle]")
