EURGBP appears to be developing a possible Butterfly Pattern. If that is the case (only time will show), then PRZ projected to be as follows: PRZ = 0.86141 - 0.86496 1.272XA = 0.86339 2.24BC = 0.86354 2.00BC = 0.86496 1.00ABC = 0.86141 I would look to go long at PRZ, subject to new information (trend, momentum, sentiment) at the time of pattern completion. But...
Hey traders please LIKE & FOLLOW, thank you! Potential inverted head & shoulders. I believe we could be seeing some big movement to the upside soon. Already creeping up now. Keeping a sharp eye on EURGBP for potential longs soon.
EURGBP possible long day/intraday trade opportunity
after making a WXY correction pattern the EUR/GBP for LONG
Updating my idea on EURGBP. I expect the price to fall to a strong support line, after which EURGBP will begin to rise to the resistance line.
setup is going short SL = 100 pips TP = 150 pips Risk 0.25%
A perfect retrace to the 0.886 fibo level for EURGBP which is not uncommon for a wave 2. The wave 5 pattern is forming and it needs to show more of its true colors (expect some more up & down in wave 2 & wave 4) but eventually we should see 0.897 & 0.90 in due time. This coincides with the H4 bearflag on GBPUSD & the COT data on Euro which is certainly bullish....
Eurgbp looks like it touched the weekly resistence, and it is going to make a retest of the marked zone. I am thinking that he will not break the zone, but if he breaks that zone, we might have another oportunity on the next support which is very strong and it is a W support too.
Hello Traders! What can we expect: On EURGBP I see upside move. We are currently at a daily/weekly Demand Zone and from here we can see a big push to the upside. We need to see how the market will develop and therefore we can better identify the Take Profit. I suggest to scalp it always from zone to zone or from zone to support/resistance. That was my Idea...