EURGBP Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.85400 zone, EURGBP was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.85400 support and resistance area.
Trade safe, Joe.
Eurgbp!
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.
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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.
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⚡️Strifor || GBPUSD-16/02/2024Preferred direction: BUY
Comment: It’s strange that we don’t yet see such strong bullish sentiment for the pound . However, the prospects is still the same and the nearest growth target is located at the level of 1.26810 . The medium-term prospects also look positive for the buyer so far. After overcoming this level, one can count on growth to 1.28000 , where more serious medium-term resistance is already located. The first attempt to break through this resistance will most likely be unsuccessful, but sooner or later it will be broken. Based on this, we can expect more global growth towards the level of 1.29000 .
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⚡️Strifor || EURUSD-16/02/2024Preferred direction: BUY
Comment: The target of the previous long trading idea is fixed, but nevertheless, we continue to adhere to the buy-priority. Medium-term prospects continue to develop in favor of the buyer, this was especially confirmed by the middle of the week, when the limit buyer demonstrated itself. In addition, the euro was supported by more negative data on US retail sales.
Today is also a busy trading day for economic events, and to a greater extent, we are talking here about the American session. As was said, this trade idea is of a medium-term mood, and the target of 1.09000 was taken within at least 1 trading week.
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Market Analysis: EUR/GBP Gains StrengthMarket Analysis: EUR/GBP Gains Strength
EUR/GBP is gaining pace and might extend its rally above the 0.8570 zone.
Important Takeaways for EUR/GBP Analysis Today
EUR/GBP started a fresh increase above the 0.8535 resistance zone.
There is a major bullish trend line forming with support near 0.8550 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a fresh increase from the 0.8500 zone. The Euro traded above the 0.8530 level to move into a positive zone against the British Pound.
The EUR/GBP chart suggests that the pair settled above the 50-hour simple moving average and 0.8535. It traded as high as 0.8570 before there was a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the 0.8498 swing low to the 0.8570 high.
Immediate support sits near a major bullish trend line at 0.8550. The next major support is near the 50% Fib retracement level of the upward move from the 0.8498 swing low to the 0.8570 high at 0.8535.
A downside break below the 0.8535 support might call for more downsides. In the stated case, the pair could drop toward the 0.8515 support level. Any more losses might send the pair toward the 0.8500 level in the near term.
Immediate resistance is near 0.8555. The next major resistance for the bulls is near the 0.8570 zone. A close above the 0.8570 level might accelerate gains.
In the stated case, the bulls may perhaps aim for a test of 0.8620. Any more gains might send the pair toward the 0.8700 level in the coming days.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
⚡️Strifor || EURUSD-15/02/2024Preferred direction: BUY
Comment: US CPI data strengthened the position of the US dollar , but nevertheless, the momentary collapse is quite significant intraday, and in the medium term, this downward impulse is not so terrible. As before, the medium-term vision remains in favor of the buyer, and a reversal can occur at any time. After the collapse to the level of 1.07000 , the market began to become saturated with BID-orders, which should have led to a price recovery, but this did not happen, which hints at the presence of a limit seller.
In the short term, we highlight two scenarios. The differences between scenarios 1 and 2 lie in the depth of the likely false downward movement. This may be because there is a buyer who was unable to go higher; against this background, the limit seller can update the current minimums, and then begin to grow.
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EURGBP Expected Growth! BUY!
My dear friends,
Please, find my technical outlook for EURGBP below:
The instrument tests an important psychological level 0.8514
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 0.8535
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
EUR-GBP Risky Short From Resistance! Sell!
Hello,Traders!
EUR-GBP made a rebound
From the support of 0.8500
Just as I predicted and went
Up nicely but will soon hit
A horizontal resistance level
From where I think we
Will see a further move down
Sell!
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Check out other forecasts below too!
EURGBP Looking Bullish with UK Recession-0.6% MoM CPI and now technical recession with 0.3 shrinking on quarterly basis. UK data this week was very weak but recently and EURGBP trying to find support from 0.85.
The weak data, bulish RSI divergence and the 0.85 support all create a buying oppurtunity. 0.8560 could be the trigger for upward moves. Below 0.85 however will change the positive outlook for the short term as the main theme is still a decending triangle so far.
⚡️Strifor || GBPUSD-15/02/2024Preferred direction: BUY
Comment: Just like in the euro, we stubbornly continue to look closely at purchases in the pound. Of course, this idea has exclusively medium-term prospects. Scenario №1 is in the works, and scenario №2 may be activated in the near future. In this case, long entry points will need to be looked for near the level of 1.25000 . Regarding the targets, everything is unchanged - 1.27000 and 1.28000 are the main ones.
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EUR/GBP - Sell Trend With Short time-frame consolidation Hello everyone ...
if price break our entry areas then this idea will be invalid..
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EURGBP - Short after filling the imbalance ✅Hello traders!
‼️ This is my perspective on EURGBP.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to make a retracement to fill the imbalance higher and then to reject from bearish order block.
Fundamental news: Tomorrow we'll see results of yearly CPI on GBP
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