24-04-2024 _ Short Term Bullish Idea _ EURGBP H41- Bullish trending pattern. 2- 50% Fibonacci retracement. 3- Strong bullish candle. 4- Hidden Divergence on MACD indicator. (suggesting a move UP) Trade plan as shown on the chart. Longby ansfar7
EUR-GBP Long From Support! Buy! Hello,Traders! EUR-GBP is going down Now but a strong horizontal Support is ahead at 0.8579 So after the retest we think The pair will make a rebound And will go up Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals116
EURGBP intraday long Idea not advice Held zone through Asia and London Change of structure Probably needs juice if it wants to push downside Higher time frame bullish Godspeed in your trading y'all. Longby DvnielTradingUpdated 223
one hour analysis to my dailly idea on eurgbp longone hour analysis to my dailly idea on eurgbp long. here u can see the wave 1 up from c and the a wave down from wave 2. up for b to the box. down for c to the lower box and then up fro wave 3by desmetjan52
eurgbp dailly long ideadailly correction started for a wave c. From what i see we had on the dailly chart allready an A wave up, a b wave down and now we started the c-wave with a starting diagonal for a wave 1 from c. we had the a-wave down for the wave 2 from c and now going up for b from wave 2. after a wave c to complete the wave 2 down and then we can start the wave 3 up from the bigger wave cLongby desmetjan51
EURGBP 30MINEURGBP 30MIN R:R = 4 RBD ZONE : This zone is calculated by supply and demand method Shortby amirprvf0
DeGRAM | EURGBP back into the uptrend channelEURGBP has returned to the ascending channel. The AB=CD pattern has worked out a reversal of the movement. The chart reached the resistance level. We think that the price may correct to the support, which coincides with the 38.2% retracement level. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!Shortby DeGRAMUpdated 115
EURGBP : Long Trade , 4hHello traders, we want to check the EURGBP chart. After breaking the channel and a strong upward movement, the price is making a correction to a key level. We expect this level to play the role of a support level and the price will maintain its upward trend and grow to around 0.86400. Good luck.Longby mrAT_Trader2
change the trend It is expected that after the completion of the corrective pattern at the support levels, a trend change will be formed and the upward trend will continue. As long as the price fluctuates above the green support range, a trend change and the start of an upward trend will be likelyLongby STPFOREX0
EURGBP increased at the beginning of the week but has reversedEURGBP rallied earlier in the week but reversed its course on Thursday after failing to clear trendline resistance at 0.8570, with prices dropping towards the 50-day simple moving average at 0.8550. The pair is likely to stabilize around current levels before mounting a comeback, but in the event of a breakdown, a dip towards 0.8520 and potentially 0.8500 could be around the corner. Alternatively, if bulls manage to reassert dominance and push the exchange rate higher, resistance emerges at 0.8570 as mentioned before. Breaking through this technical obstacle could set the stage for a surge toward the 200-day simple moving average near the 0.8600 handle.by Xayah_tradingUpdated 2
EURGBP Double Top Trend ReversalTrade #1 Entry Level: 0.86216 Stop Loss: 0.86449 Take Profit: 0.85964 Risk to Reward Ratio: 1:1 Trade #2 Entry Level: 0.86216 Stop Loss: 0.86449 Take Profit: 0.85713 Risk to Reward Ratio: 1:2 by Thrifttrader890
EURGBPthe EURGBP forex rate, the EUR is the base currency, while the GBP is the quote currency. This means that at any given time, the price of EURGBP pair represents the amount of British pound sterling it would take to exchange for one euro.Longby HavalMamar0
Swing Long for EURGBPPrice has reached a major support level, so I'm going long from here. Target is 0.8618Longby CJBlueNortherUpdated 8
Euro pound shortThe Euro pound shows potential temporary bullish run to the upside to significant levels before continuing the bearish trend to the downside.Shortby ThePinnacleTrader3
EURGBP potential for a pullback Risky but calculated potential long for EURGBP. As previously stated, this pair has been ranging between (circa) 87.50 and 85.00 since May of 23’. It would appear that the pair may have entered a potential bearish channel (yellow) from September 23’ to present. Within this bearish channel the price has been moving within a bullish descending wedge (white). It seems we have now reached the confluence point between the lower end of the wedge, the bottom of the trend channel and a major support zone for the current range (grey). It is for this reason I think there is a strong argument for buying this pair in anticipation for a pullback in price to the upper limits of the bearish channel. The main reasons I would categorise this trade as risky is because both the ECB AND BoE have refused all attempts at discussing an appropriate timeline for a rate reduction, although the ECB was more clear and firm stating that’s it’s still too early to discuss a reduction. In contrast the BoE was slightly more Dovish regarding rates which may pose a problem for sterling in the near future. The lack of guidance from both institutions has left markets speculating. Two votes for a rate rise wasn’t all that surprising but with a member voting for a reduction for the first time since these hikes began it could signal policy direction in the near future. Moreover, mortgage providers in the uk surprisingly reduced rates on some mortgage products yesterday which could further signal an industry wide expectation that we have reached the terminal rate. On a technical side note, the price has very recently broken a historic and well respected rising trend line (green) which goes back to July 2015. So you can see it yourself, the respective test dates are as follows; July 15’ Nov 15’ March 22’ April 22’ August 22’ July 23’ August 23’ September 23’ Dec 23’ This most recent move (January 24’) may be quite significant as it is the only significant break past this line since it formed 8 years ago this summer. The question on my mind, is it a breakout or fake-out? I guess time will tell but if it is the former then I would perhaps look to see a pullback in price prior to continuing its bearish trend, which adds further legitimacy to the overall support for a cautious long. To further support this idea, moderate divergences can be seen in price action and the indicators shown. As such, I entered a long position at 85.23 but placed a TP at 85.63 (previous high) due to this weeks news… which was unknown at the time. I have since entered again at 85.22 with a view to scale in my positions as/if the price drops. As always, I will be securing my capital in the form of appropriately placed hedged positions. The details of S/L and T/P are placed at your own discretion. What do you guys think? Happy trading!Longby jamesfrench73Updated 228
Higher Low Retest (Expected trend reversal)Waiting for a new higher low retest above recent lower high (0.85703), near Fibonacci zone of 0.50 and 0.618 where high probability set-up's occur. The recent breakout could also be a sign of a trend reversal as confirmed by a bullish pennant chart pattern. by KhoraCapital0
EURGBP - Long from bullish order block ✅Hello traders! ‼️ This is my perspective on EURGBP. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. My point of interest is if price continue the retracement to fill that huge imbalance lower and then rejects from bullish order block. Like, comment and subscribe to be in touch with my content! Longby Snick3rSD10
British Pound can turn around and try to break resistance levelHello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a not long time ago started to decline inside the downward channel, where it first rebounded from the support line and rose to the channel's resistance line. But after this, EURGBP bounced from this line too and continued to decline in the channel to the buyer zone, which coincided with the support level and then price some time traded in this area. Later the price rebounded up, exiting from the downward channel, but after this it made a downward movement, breaking the 0.8540 level again. Soon, GBP turned around and started to rise inside from an upward pennant, where it broke the support level one more time, making a fake breakout. After this, the price made a correction to the support line of the pennant and then made an impulse up to the resistance line, thereby breaking the 0.8615 level, which coincided with the seller zone. But a not long time ago British Pound turned around and in a short time declined below the resistance level and now it continues to decline. In my mind, EURGBP can fall to the support line, after which the price will turn around and rebound up to the resistance line of the pennant, breaking the resistance level. So, that's why I set my target at the 0.8635 level. Please share this idea with your friends and click Boost 🚀 Longby LegionQ82
EURGBP DUMP! :)The move to the upside was made, now the move towards the downside will be a movie...Shortby DannyKhan132
EUR/GBP SELL STOP at .8620Yesterday I SHORTED this pair from just below the WR1 pivot. There was French and German Flash Manufacturing & Service PMI this morning so I banked the profit and waited to see what the print was. All releases came out in green numbers and inevitably this gave a boost to the EUR. Key now was the realease of the same data out of the UK. This too came out in green numbers for Services amd red for manufacturing (mirroring the French and German print). Before all this data EUR/GBP was drifting lower and I expect this direction south to continue. However. The price has been stuck at 25 EMA which has so far supported the price and prevented EUR/GBP BEARS from driving the price south. We need to see this EMA broken so in anticiaption of this, I've set a SELL STOP at .8620 which is 6 pips under the currenct price. ON the H1 time frame RSI is declining as is MACD. The red SELL line of the Andean Oscillator is rising and the green BUY line has crossed the signal line. All these are BEARISH signals so its likely we may see the price decline. There's Manufacturing and Services news out in the US at 14:45 but its uncertain how this will affect the market. If the trade is triggered then place stops above the 25 EMA and look at the WPP pivot at .8583 as potential target though momentum will (as ever) determine stops and take profit.Shortby forextraplaces0
EUR/GBP Fundamental and Technical AnalysisEUR/GBP Fundamental and Technical Analysis The EUR/GBP pair experienced a bout of volatility following the release of mixed UK PMI data on Tuesday. The market’s reaction was a blend of anticipation and caution as investors digested the implications of the economic indicators. Mixed Signals from the UK The UK’s Purchasing Managers’ Index (PMI) data presented a complex picture, with the Services PMI notably improving to 54.9 in April. This figure surpassed both the expected 53.0 and the previous month’s 53.1, signaling a robust expansion in the services sector. The positive surprise provided a momentary uplift to the sterling, as it suggested resilience in the face of broader economic headwinds. ECB’s Interest Rate Strategy Adding to the currency dynamics, ECB Vice President Luis de Guindos’s statement that the central bank is poised to lower interest rates in June introduced a dovish tone to the Eurozone’s monetary policy outlook. This announcement exerted downward pressure on the euro, as lower interest rates typically decrease the currency’s attractiveness to yield-seeking investors. The Impact on EUR/GBP The juxtaposition of the UK’s stronger-than-expected Services PMI and the ECB’s rate cut plans created a tug-of-war scenario for the EUR/GBP. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Longby KlejdiCuni6
SHORT EUR/JPY from .8642Since the middle of last week we have seen all GB P pairs selling off. GBP/JPY was a gift of a week last week for traders as price repeatedly hit areas of resistance only for GBP/JPY BEARS to push the price south. Every trading day last week the price of GBP/JPY hit the WR1 pivot and retreated and the WR1 and WS1 pivots are key to my trading as you can plot these at the start of week and plan for when/if the price hits. In the last few hours we can see GBP is rising. WS1 has been hit across several GBP pairs and its clear that there is some BULLISH momentum around. Obviously, if GBP is rising then EUR/GBP will fall. The price has just failed to reach WR1 and its not impossible EUR/GBP BULLS may try to take the price to this level but its also possible that EUR/GBP BEARS will jump on this pair and drive the price south. RSI was as high as 88 a couple of candles ago but now is reading 73. MACD on the lower timeframes is signalling SHORT and the Andean Oscillator sees the red SELL line reading over zero having been flat. The path of least resistance is south and the BULLS have it all to do to push back into overbought to move the price higher. STOP for this is a hard stop at .8650 (8 pips) and the target initially is .8583 which is WPP mid pivot though the I'll close the trade if there are signs of any BULLISH recovery.Shortby forextraplacesUpdated 4
EURGBP - Fibo Retracement TradePulse to the upside has retraced over Fib (0.318) level and broke back the Fib (0) level. Direct close on the Fib counts as a direct entry. Not waiting for a break and retestLongby KaracTrade0