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Eur-gbp

InvestMate|EUR/GBP Continuation Of Declines Looming💶💷💶💷EUR/GBP Continuation Of Declines Looming 💶💷Post is a direct continuation of my previous post in which I announced the continuation of the declines on EUR/GBP: 💶💷As you can see, it didn't take long for any reaction to confirm the continuation of the declines. 💶💷Today's movement exceptionally confirmed my assumptions. 💶💷The first support zone ahead of us was determined by a cluster of two fibo levels. The first is 0.236 of the downward wave from the peak of 2020 to 2022 bottom. The second level is 0.382 of the upward wave from the 2015 bottom to the 2020 peak. 💶💷There is one more zone below this zone which I think will be the target over the months. The first level with which it was determined is 0.886 of the upward wave from the bottom 0.4.03.2022 to the peak 22.09.2022. The second level is 0.5 of the downward wave from the peak 2008 to the bottom 2015. 💶💷The scenario I'm playing out is a continuation of the declines, respecting support zones along the way. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description. 💶💷*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
12
EUR/GBP No chance for growth💶💷💶💷EUR/GBP No chance for growth. 💶💷As I have written many times before, my opinion remains unchanged, I still believe that we are in for declines on the EUR/GBP pair. 💶💷Link to previous posts: 💶💷I am again bringing you an Update to give you my perspective and current thoughts. 💶💷The chart has been updated with new support and resistance levels. 💶💷 Let's start with the resistance level we are at. 💶💷It was determined by a cluster of fibo levels. The first is the 0.618 level of the entire upward wave from bottom to top, the second is the 0.786 level of the entire recent upward correction. As you can see, the price has repeatedly found either resistance or support at these points. 💶💷 There are support zones ahead in the south direction. 💶💷The first one was determined by the 1.272 level of the entire upward correction and we can see that the price has paid attention to this price level in the past. 💶💷The second was determined from a cluster of levels. The first is the 0.786 level of the entire bottom-to-peak wave and the second is the outer level of 1.618 of the last upward correction. 💶💷The scenario I am playing out is a continuation of declines to support zones with the possibility of corrections along the way. If the perspective would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
21
EURGBP on a break 🦐EURGBP on the 4h chart after the expected drop tested with a spike the weekly support area and closed the candle at the 0.886 Fibonacci level. The scenario remains bearish on this pair and some retracement to the 0.618 Fibonacci level can be seen. How can i approach this scenario? I will wait for a possible test of the enlighten level and if the price will provide a new sign of inversion i will consider a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
8
InvestMate|EUR/GBP Prepare for pound strengthening 💶💷💶💷EURR/GBP Prepare for pound strengthening . 💶💷In the current post we will again look at the situation on the EUR/GBP pair which I have described in previous posts: 💶💷This time I wanted to update some levels. 💶💷As we can see the EUR/GBP behaved exactly as I described in the previous post. 💶💷We broke through a strong support zone which we currently treat as resistance. It results from two measurements. The first is the level 0.618 of the entire upward wave and the second is the level 0.5 of the last upward impulse. 💶💷The support zone has also been updated with a new level of 0.786 which with the outer level of 1.272 of the entire last upward correction forms a cluster. As can be seen, price has also reacted at these levels in the past. I therefore consider it to be relevant. 💶💷The scenario that I have been playing out for almost weeks now is a gradual weakening of the euro against the pound with the aim of falling to the support zone and waiting there for a possible upward correction of the new downtrend. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
3
InvestMate|EUR/GBP Didn't I say so?💶💷💶💷EUR/GBP Didn't I say so? 💶💷As I wrote in my last post about the coming dips, as usual I was not wrong, this time it was time for an update. Link to the post below: 💶💷We will start with the fact that we broke through an important support zone and reached the 0.618 level from where I expect a retest of last resistance, the current support. 💶💷The new strong support zone I determined based on the measurement of the external fibo: 1.272 and levels where price has found resistance in the past. 💶💷 I expect a continuation of the downtrend which can only gain strength in the coming months. 💶💷💷The scenario I am playing out is a continuation of the southward direction, not excluding a test of the current resistance zone. 💶💷For fundamental data justifying the declines, I refer again to the previous post. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
10
InvestMate|EUR/GBP Continued declines💶💷💶💷EUR/GBP Continued declines. 💶💷This time it's time for the EUR/GBP pair. 💶💷Over a while has passed since my last post on this one. Enough time for the sellers to attack again. 💶💷That's just like my bearish attitude. 💶💷I will briefly outline the fundamental situation of both currencies. 💶Beginning with the Euro: 💶Looking at economic growth in the Eurozone we are at levels of 2.1% This is quite average looking at the past. 💶 Unemployment in the Eurozone is falling the latest readings on 3 November showed us falling to levels of 6.6% compared to last year's reading of 6.7%. 💶 Ahead of us next week, on 17 November to be exact, are the readings on inflation, which stood at 10.7% on 31 October. The market is betting on inflation slowing down. In the coming months. Which may reduce the push for the next interest rate hike. 💶 Eurozone interest rates were raised by 75 basis points at the last counci meeting on 27 October to levels of 2%. 💷Now what is the situation in the UK: 💷 UK economic growth also slows is currently 2.4%. 💷We will find out about unemployment tomorrow 15 November. We are currently at 3.5%. The market is not entirely convinced whether we will maintain this level or increase. tradingeconomics.com 💷Inflation continues to rise we have 10.1% so far but the market expects a further rise, which may prompt the monetary policy council to remain mostly hawkish. 💷 Rates were raised to 3% on 3 November and so far there is no sign of us slowing down in the near future. 💷I would also like to add that a few weeks ago the Central Bank of England announced unlimited asset purchases which may influence the strengthening of the pound. 💶💷We see that the situation supports the upside scenario on the pound. 💶💷Transforming to the chart I will outline all the tools used in turn: 💶💷1 I have plotted a downward channel from peak to low. As we can see the price was in this channel for a long period of time and then the breakout occurred. 💶💷2. I determined the upward channel of the current upward correction. From which we broke out to the bottom and have now returned to the edge again. 💶💷2 I then measured the wave from peak to bottom using the fibo. 💶💷3. I determined the fibo wave from bottom to top to find future support zones. 💶💷4. I measured using the fibo grid the last downward wave of the current upward impulse. 💶💷4. I measured the largest downward wave in the downtrend and set a correction level of 1:1 💶💷5 I determined 3 support lines. (1). Around the 0.618 level of the wave of the current uptrend. (2). The zone at the last low plus is the 0.618 level of the largest downward wave. (3). The cluster of the 1.618 level of the current upward impulse plus the 1:1 level of the largest downward wave. 💶💷6. I have determined 2 resistance zones. (1). Based on the 0.236 level of the current uptrend, we can see that this has also been a vulnerable area in the past. (2). Based on the 0.382 level of the entire downward wave, also the price has respected this price level in the past. Currently, this resistance represents the top of the current impulse. 💶💷The scenario I am playing out is a gradual continuation of the weakening of the euro against the pound with minor corrections along the way. We are currently at an intervening price point. 💶💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
13
EUR GBP - FUNDAMENTAL DRIVERSEUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE At their previous meeting the ECB hiked by another 75bsp, and with HICP >9% it should keep the bank hiking for now. ECB sources notes the bank is planning to discuss QT at their Dec meeting. On spread fragmentation, the bank didn’t provide any new info or clarity on how the eligibility might impact countries like Italy and Spain. Until the BTP/Bund spread breaches 2.55%, markets will have to wait and see whether TPI can make a difference. The main driver for the EUR is the economic outlook, but there are a few different conflicting drivers. Gas supply from Russia remain closed (EUR negative), but energy reform plans have seen EU gas prices lose ground (EUR positive). The war in Ukraine remains a risk (EUR negative), but recent victories by Ukraine and the recapture of the strategic city of Kherson has been a more positive development (EUR positive). In the week ahead, flash PMIs for France & Germany will be the only major calendar highlight POSSIBLE BULLISH SURPRISES De-escalation or cease fire in Ukraine. Stagflation risks remains, but with lots of bad news priced any materially better-than-expected data could spark some relief. Given the EUR’s DXY weighting, better overall risk sentiment that pressures the USD should be supportive for the EUR. POSSIBLE BEARISH SURPRISES Escalation in Ukraine war that risks NATO involvement. Stagflation risks remains, even with lots of bad news priced any materially worse-than-expected data could see more pressure. Given the EUR’s DXY weighting, continued sour risk sentiment that supports the USD should be negative for the EUR. BIGGER PICTURE The fundamental outlook remains bearish with recent data pointing to a higher likelihood of a EZ recession. Current bearish drivers (geopolitics, stagflation, spread fragmentation, energy supply) outweigh the positives. Recession risks remain high and means incoming data like growth & inflation will be watched closely. For now, the focus for the EUR is on multiple fronts from energy to policy to geopolitics, which means we don’t want to be hasty with looking for new EUR trades and want a very clear reason and catalyst to trade the currency in the short-term. GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE A looming recession has been a key source of Pound weakness and has kept pressure on Sterling despite ongoing BoE hikes. At their NOV policy decision, the BoE’s updated projections showed a deeper and longer recession than previously thought, as well as a stern push back against current market pricing for the high implied rate path. However, rate markets did not respond to this with only marginal downside in terminal rate expectations. With the new budget now out of the way, the markets should turn their attention to what this means for the economic outlook, and means economic data & BoE policy should start to matter a bit more again. This week the highlight will be S&P Flash PMIs, but a slew of BoE speak will be interesting after the budget. POSSIBLE BULLISH SURPRISES With recession the base assumption, any incoming data that surprises meaningfully higher could trigger relief for the GBP. With focus on stagflation, any downside surprises in CPI or factors that decrease inflation pressures are expected to support the GBP and not pressure it. Any overly positive takes from BoE speak regarding the budget could be taken as a positive for Sterling. POSSIBLE BEARISH SURPRISES With recession the base assumption, any material downside surprises in growth data can still trigger short-term pressure. With focus on stagflation, any upside surprises in CPI or factors that increase more inflation pressures are expected to weigh on the GBP and not support it. Any overly negative takes from BoE speak regarding the budget could be taken as a positive for Sterling. BIGGER PICTURE The fundamentals for Sterling remain bearish with the UK already in a recession based on recent data. At least the new PM has provided some calm to the fiscal situation and political uncertainty though. Expectations are for a lot of pain ahead for the UK economy which means the fundamental outlook remains bearish.
by thunderpips
1
Joe Gun2Head Trade - Head and shoulders on 60min EURGBPTrade Idea: Selling EURGBP Reasoning: Head and shoulders on 60min EURGBP Entry Level: 0.8704 Take Profit Level: 0.8652 Stop Loss: 0.8726 Risk/Reward: 2.36:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
2
UK 11% inflation and supply chain shock is starting to fadeUK inflation goes to 11% a 41-year high, goods prices continue to increase. BOE says supply chain shock is starting to fade, however, with this inflation rate, the next couple hours the EURGBP will certainly go long. Chart: We have a support that was not tested after the dates of UK. But we can see the RSI in a oversold zone and after changing the direction the MACD is going up. The MA of BB has already been tested with some candles shadows, but none of them crossed it.
Long
by AFCapital21
2
EURGBP a turn at the 0.5 Fibonacci 🦐EURGBP on the 4h chart after the last impulse retraced at the 0.5 Fibonacci level and retest the 4h support. The price is now trading below a daily resistance and according to Pkancton's strategy IF the price will break above we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
by InkyGrip
2
EUR / GBP bullish short term outlookEUR / GBP: Bullish outlook despite the pullback on November 10th and the fact that price found support above the 40 week (200 day) moving average which also intersects at 0.8686 (the 50% retracement from 4 week high / low) indicates the pair may have strong buyer support, this can be further supported by the fact that current price remains above its 4 week moving average, as well as the fact that both 4 and 13 week rate of change indicators are above their respective signal lines ( above zero), this technical conclusion supports the prospects for a bullish outlook over the short term (5-25 days) with upside potential targets near 0.8870 (Oct 12 high) and 0.8930 (38.2% retracement from the 13 week high low).
Long
by Skilling
EURGBP short IF cross MABoth zones UK and Euro had rise their interest rates in 75bp. Days ago Lagard said ECB will continue raising rates to fight the inflation, and BOE are warning about a long recession, and the interest rates hikes in 30Y In this chart we can watch the price touching the resistance and a overbought at BB and RSI, changing the direction such as MACD that had already crossed the signal line. We can wait for the confirmation of short position after the candles cross the MA, and open our position against Eur if it's a strong short candle
Short
by AFCapital21