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Eur-gbp

EURGBP: Short term rebound initiatedEURGBP is neutral on its 1D technical outlook (RSI = 53.577, MACD = 0.001, ADX = 12.005) as it is ranges between the 1D MA50 (Support) and 1D MA200 (Resistance). Having made a Double Bottom on S1 on March 8th, with that level holding since August 23rd 2023, the current rebound is expected to extend to the LH trendline, essentially the top of the Descending Triangle. The Bullish Wave before this one, crossed the 0.5 Fibonacci level and then reversed, which gives us a TP = 0.86400. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
Buy EURGBP Bullish PennantThe EUR/GBP pair on the M30 timeframe presents a potential buying opportunity due to the presence of a well-defined bullish pennant pattern. This pattern often suggests a continuation of the prior uptrend after a brief consolidation phase. Key Points: Buy Entry: Consider entering a long position (buying) around the current price of 0.8576, positioned near the support line of the pennant. This offers an entry point close to the perceived continuation of the uptrend. Target Levels: Initial bullish targets lie at the following levels: 0.8616: This represents the height of the pennant, measured from the top trendline to the bottom trendline, projected upwards from the breakout point. 0.8640: This is a further extension of the upside target, based on the height of the previous price movement before the pennant formation. Stop-Loss: To manage risk, place a stop-loss order below the support line of the pennant, ideally around 0.8560. This helps limit potential losses if the price breaks down from the pennant pattern. Thank you
Long
by KABHI_TA_TRADING
1
EURGBP Double bottom and rebound expected.The EURGBP pair formed a Double Bottom on the March 08 Low but is being restricted (and fail to close a 1D candle) successively below the 1D MA50 (blue trend-line). With the 1D RSI on Higher Lows, i.e. a Bullish Divergence, we expect a rebound towards the 0.5 Fibonacci level, similar to the sequence that followed the August 23 2023 Double Bottom. Our target is 0.86300. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
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