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EURGBP

EUR/GBP Technical Analysis – Monthly, Daily, and 4-Hour Monthly Time Frame: On the monthly chart, the price has reached a key demand zone that has historically shown strong buyer interest. This is a crucial area where we are now witnessing a significant reaction, indicating that buyers are stepping in. The bullish pressure from this zone suggests the potential for upward momentum in the coming weeks or months. Daily Time Frame: On the daily chart, we see strong buying pressure that has led to an overextension in the current price action. This overextension is a signal that the market may soon undergo a correction. However, before assuming a reversal, it is important to focus on confirming signals that will validate a potential correction. These signals could include bearish candlestick formations or a breakdown in key support levels. 4-Hour Time Frame: In the 4-hour chart, a clear trend reversal pattern has emerged, indicating a shift in market sentiment. We can observe lower lows being formed, with the most recent low liquidating the previous one, followed by a strong bullish movement. This sweep of liquidity followed by a rally signals that the market has completed its bearish phase and is ready to push higher. Take Profit and Stop Loss Ideas: Take Profit: A reasonable take profit level can be placed just below the next significant resistance area on the 4-hour chart or around key highs visible on the daily chart. Stop Loss: Conservative Stop Loss: Below the key demand zone on the 4-hour chart, allowing room for price fluctuations while still protecting the position. Aggressive Stop Loss: Tighter, just below the most recent low, providing a higher risk-reward ratio but with less room for market noise.
Long
by Wiiso
2
EURGBP to find bears at market price?EURGBP - 24h expiry We are trading at oversold extremes. We look for a temporary move higher. Preferred trade is to sell into rallies. The primary trend remains bearish. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Our profit targets will be 0.8320 and 0.8305 Intraday - We look to Sell at 0.8370 (stop at 0.8390) Resistance: 0.8352 / 0.8375 / 0.8390 Support: 0.8340 / 0.8330 / 0.8317 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
The move I'm looking for on EURGBP Price is in a nice downtrend. I do see price continuing this trend but first we must retrace which is what it's doing currently as we speak. I see price retracing off of that zone but before that we are going to see price either reach at least 0.83700 to reach that Fibonacci of 38.2% or it could come as high as 0.83800 to retrace off of what was once; a major support area that we see in past price action. If that happens I also to expect the EMA To look what I have drawn out. Just a thought, we'll see what happens ⚐
Short
by themarketmafia
EUR/GBP extends drop amid Eurozone concernsThe EUR/GBP is down for another week after giving up its gains last week to close lower, created an inverted hammer/doji candle on the weekly time frame. Following that bearish-looking candle last week, we have seen some subsequent downside follow through so far this week, with rates on course to potentially drop to 0.8300 and potentially even test long-term support at 0.8200 in the not-too-distant future. With data from the Eurozone consistently disappointing expectations, China’s economy far from its growth goal to support Eurozone exports, you do have to wonder where growth for the Eurozone might come from. That’s why traders are not rushing to buy the euro despite today’s big surge in Chinese equities as a result of the latest round of stimulus measures. While a weaker US dollar is masking the EUR/USD weakness, looking at the EUR/GBP and several other euro crosses is telling. The 'Chunnel', which is a reference to the Channel Tunnel that connects the UK and Europe, is approaching its post-Brexit lows nearing a band of prior support around 0.8200 - 0.8300. If you think of the troubles facing the UK economy right now, you’d think the EUR/GBP should be 2-3 hundred pips higher than it is right now. This therefore highlights what investors think of the Eurozone economy right now. Anyway resistance for this pair now comes in around 0.8380 area. By Fawad Razaqzada, market analyst with FOREX.com
by FOREXcom
1
#EURGBP 1 DAYThe EUR/GBP pair on the 1-day chart has now entered a demand zone, indicating that the price has reached a key level where strong buying interest is typically expected. This presents a potential buy opportunity as the demand zone could act as a support level, leading to a price rebound. Traders might look for confirmation signals such as bullish candlestick patterns, increased buying volume, or other technical indicators that suggest the start of an upward move. This zone often represents a favorable risk-to-reward ratio, making it an attractive entry point for long positions. However, as always, it's important to apply proper risk management to account for the possibility of further downside movement.
Long
by PIPSFIGHTER
EUR/GBP Exchange Rate Hits 29-Month LowEUR/GBP Exchange Rate Hits 29-Month Low According to today’s daily chart of EUR/GBP: → The rate is around £0.832 per euro – the lowest since April 2022. → The RSI indicator has dropped into oversold territory. Yesterday, the EUR/GBP rate fell by 0.71%, driven by bearish sentiment following the release of PMI indices, which indicated a slowdown in the Eurozone economy. According to Forex Factory: French Flash Manufacturing PMI: actual = 44.0, expected = 44.3, previous = 43.9; French Flash Services PMI: actual = 48.3, expected = 53.0, previous = 55.0; German Flash Manufacturing PMI: actual = 40.3, expected = 42.4, previous = 42.4; German Flash Services PMI: actual = 50.6, expected = 51.1, previous = 51.2. Meanwhile, PMI indices for the UK remain above 50, signalling economic growth. Flash Manufacturing PMI: actual = 51.5, expected = 52.3, previous = 52.5; Flash Services PMI: actual = 52.8, expected = 53.5, previous = 53.7. Technical analysis of the EUR/GBP chart today shows the price moving within a descending channel (marked in red). In September, the price bounced off the £0.840 level, which had acted as support since June. The price movement formed an arc (shown by an arrow), suggesting that: - Demand is weakening. - The median line of the red channel is acting as resistance. If bears maintain control of the market, the EUR/GBP rate could fall towards the lower boundary of the red channel. However, if bulls attempt to recover, the price may face strong resistance at the £0.840 level. 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.
by FXOpen
2
$EURGBP | Sell Trade | Market Exec |Technical Confluences: Price action is bounced off an Interest Zone and created a newer low Price is breaking through a support trendline To note, Stochastics is moving into Oversold conditions but fundamentally, there is support for OANDA:EURGBP to be weaker Fundamental Confluences: This FX pair is a trade-related pair and normally doesn't move much against one another unless there is a change in fiscal or monetary front In this sense, we got a gauge of how both central banks, ECB and BOE stance are. ECB is taking on a data dependent stance and is trying to resist cutting interest rates while BOE sent out a hawkish note the other day that majority of them do not want to cut rates Naturally from a yield perspective, holding GBP compared to EUR is more attractive and this is what we are aiming for. ----- Will be taking on a short OANDA:EURGBP position when market reopens on Monday. This trade may take some time to complete as it there is normally not much action with this pair except during London's trading hours. -----
Short
by weekendanalyst
Bear Flag w/Confirmed Bearish Break - EGHere I have EUR/GBP on the Daily Chart! Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag. -The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward! -Looking for a retest in the ( .8430 - .8435 ) Indicators: - Price trading Below 200 EMA - RSI Below 50 - BBTrend Printing Strong Red Bars - Volume showing Bears accumulating
Short
by Novi_Fibonacci
EURGBP Massive Long! BUY! My dear friends, My technical analysis for EURGBP is below: The market is trading on 0.8393 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 0.8415 Recommended Stop Loss - 0.8382 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
EURGBP to find sellers at marabuzo resistance?EURGBP - 24h expiry Broken out of the channel formation to the downside. Yesterday's Marabuzo is located at 0.8431. Preferred trade is to sell into rallies. The primary trend remains bearish. We look for a temporary move higher. We look to Sell at 0.8430 (stop at 0.8446) Our profit targets will be 0.8390 and 0.8375 Resistance: 0.8420 / 0.8430 / 0.8445 Support: 0.8415 / 0.8404 / 0.8380 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURGBP Will Go Higher From Support! Long! Please, check our technical outlook for EURGBP. Time Frame: 7h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 0.841. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 0.843 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
EURGBP Is Going Down! Sell! Here is our detailed technical review for EURGBP. Time Frame: 7h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 0.843. Considering the today's price action, probabilities will be high to see a movement to 0.840. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
2