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Eur-gbp

EURGBP: Rejection on the 1D MA50. Sell signal.EURGBP is technically bearish on the 1D timeframe (RSI = 37.174, MACD = 0.000, ADX = 32.150) as it is extending the selling since the December 28th 2023 High near the top of the 1 year Channel Down. For the last 3 days it has failed to cross over the 1D MA50, even though it got too close, and a rejection today can start a bearish wave of minimum -1.78%, much like July 11th 2023. Consequently we are short with TP = 0.84250, even though the long-term extension can even be at -4.04% or even the 2.0 Fibonacci level. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EUR/GBP: Assessing Lagarde's Rate Cut RemarksHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.85700 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.85700 support and resistance area. Recent remarks from ECB President Lagarde indicating the likelihood of rate cuts have injected uncertainty into the EUR/GBP pair. The prospect of monetary policy easing in the Eurozone tends to exert downward pressure on the Euro against the British Pound. Investors interpret such signals as indicative of economic weakness or the need for stimulus measures, which can dampen the appeal of the Euro relative to the Pound. Therefore, Lagarde's commentary on potential rate cuts may contribute to further downside pressure on EUR/GBP as traders factor in the possibility of looser monetary policy in the Eurozone compared to the UK. Trade safe, Joe.
Short
by JoeChampion
Potential weakness for EURGBPHello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Could see price heading down, but do now 0.8500-10 is a key zone on the daily for EURGBP. Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Short
by Shadowing_The_Big_Boys
BoE's Huw Pill Remarks: Implications for GBP Strength in EURGBP Greeting Traders! In the upcoming week, our focus shifts to EURGBP for a potential selling opportunity around the 0.85500 zone. The pair has been navigating a downtrend and is currently undergoing a correction phase as it approaches the trend at the 0.85500 support and resistance area. Turning to the fundamental landscape, recent statements from the Bank of England (BoE) hint at a possible shift in interest rate policy. Chief economist Huw Pill's remarks diverge from Governor Andrew Bailey's stance, suggesting a potential disagreement within the central bank regarding future rate movements. Pill's cautionary tone, particularly regarding external factors such as developments in the Middle East, hints at a more nuanced approach to rate decisions. He emphasizes the need for flexibility in responding to geopolitical events that could impact the economic landscape, indicating that such developments could influence the speed or direction of future rate adjustments.
Short
by JoeChampion
2
EURGBP: Technicals and ECB Policy ShiftIn today's trading session, our focus is on EURGBP, where we are eyeing a selling opportunity around the 0.85800 zone. Technically, EURGBP is trading in a downtrend and currently navigating a correction phase towards the 0.85800 support and resistance area. Now, delving into the fundamental layer, we are inclined towards a bearish stance on the Euro due to potential rate cuts from the European Central Bank (ECB) in April. The recent policy stance of the ECB indicates a shift towards a more accommodative monetary policy stance. President Lagarde's avoidance of calendar guidance in favor of data dependence further underscores this shift. The ECB's acknowledgment that data have been trending positively, albeit faster than expected, suggests a willingness to act preemptively if economic conditions warrant it. The latest PMI data, while showing signs of improvement in the manufacturing sector, also hint at supply disruptions affecting delivery times, which could temper the overall economic recovery. Additionally, disappointing forward-looking indicators like the fo climate index and subdued inflation expectations from ECB surveys contribute to a cautious outlook on the Euro's prospects. As such, the constraints on the ECB are easing, paving the way for potential monetary policy adjustments in the coming months, including the possibility of rate cuts. This shift in policy stance and the accompanying real rate differentials could weigh on the Euro against other currencies, including the British Pound. In light of these factors, maintaining a bearish outlook on the Euro seems prudent, with EURGBP positioned for potential downside movement in the near term
Short
by JoeChampion
1
EURGBP Watch: Strategies Amidst the Correction PhaseGreetings Traders, In today's trading session, our attention is turned towards EURGBP, where we are actively monitoring a potential selling opportunity around the 0.86500 zone. Currently entrenched in a downtrend, EURGBP is navigating a correction phase that brings it closer to the significant 0.86500 support and resistance area. As EURGBP adheres to its downtrend trajectory, traders are observing the unfolding correction, anticipating a strategic entry point near the 0.86500 level. The support and resistance area represents a critical juncture, offering traders an opportune moment to consider a selling position. Vigilance and careful risk management are crucial as traders navigate the intricacies of EURGBP's correction phase. The broader economic context, geopolitical events, and central bank policies can further influence EURGBP's movements. Traders should stay informed about relevant developments to make well-informed decisions in this dynamic trading environment. As always, trade safe and remain adaptable to evolving market conditions. Best regards, Joe.
Short
by JoeChampion
EURGBP Potential downsidesHey Traders, In today's trading session, our attention is on EURGBP, as we seek a selling opportunity around the 0.86500 zone. Having previously traded in an uptrend, EURGBP has recently broken out from this pattern and is currently in a correction phase. The correction brings the currency pair towards the retrace area at the 0.86500 support and resistance region, a crucial zone with historical significance. The shift from an uptrend to the ongoing correction introduces a new dynamic to EURGBP's market behavior. The 0.86500 level emerges as a pivotal point, representing both support and resistance, and its impending influence on the currency pair is closely monitored. Traders and investors are alert to potential implications for future price movements as EURGBP navigates through this critical juncture, shaping the narrative for a potential selling opportunity. Trade safe, Joe.
Short
by JoeChampion
EURGBP Consolidating before a sell.The EURGBP pair is on the 6th day of consolidation following the late November sell-off, trading considerably below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The long-term pattern that has been more established since the February 03 High is a Channel Down and it appears that this is a usual technical consolidation phase before the bearish leg enters its 2nd phase. The 1D RSI got oversold though on December 01 and rebounded back above the 30.00 barrier, which aso explains the consolidation since, but be aware that if the 1D MACD completes a Bullish Cross, it will be time to buy and target the 1D MA50. Until then, we are bearish, aiming for a usual (since June 2022) -4.18% decline from the recent Lower High at 0.8400. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot