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Eurgbpanalysis

EURGBP - FUNDAMENTAL AND TECHNICAL VIEW#EURGBP - Currently the MARKET SENTIMENT for EURGBP is slightly on the UP SIDE. The main reason for that is the POSITIVE RISK SENTIMENT for EUR. Also, even if BOE RATE HIKE, we were not able to see BOE's intervention. The reason for a POSITIVE SENTIMENT in EUR is that the USD has been quite WEAK in recent weeks. But a good UP SIDE BIAS is coming for EUR now with the MARKET SENTIMENT. Due to this reason, all MARKETS including STOCKS can be seen to be UP due to MARKET RISK being ON. It affects the EUR in a big way. The ECB did a RATE HIKE. BOE also did a RATE HIKE last week. - EURGBP can definitely go up to the RESISTANCE LEVEL above. Due to USD WEAK, EUR may be quite STRONG. Accordingly, EURGBP can go up slightly until the 0.8916 LEVEL. And after that EURGBP can SELL to 0.8600 LEVEL. The given STRUCTURES should be BREAKED for that...
by benny_marshall
Topdown Analysis on EURGBP Weekly TFMonthly chart: The EURGBP pair has been in a long-term downtrend since 2008, with lower highs and lower lows. Price is currently trading near a key support level at 0.8400, which has held as support multiple times in the past. Weekly chart: On the weekly chart, the EURGBP pair appears to be in a range-bound market. Price has been trading within a symmetrical triangle pattern since August 2021, with lower highs and higher lows. The upper boundary of the triangle is near 0.8700, while the lower boundary is near 0.8400. Daily chart: On the daily chart, the EURGBP pair has been in a short-term uptrend since early February 2022. Price has broken above the upper boundary of the symmetrical triangle on the weekly chart and is currently testing the key resistance level at 0.8600. The 50-day moving average is above the 200-day moving average, indicating a bullish bias. 4-hour chart: On the 4-hour chart, the EURGBP pair has been in a short-term uptrend since mid-February 2022. Price has been making higher highs and higher lows, with the 50-period moving average acting as support. The RSI indicator is in overbought territory, suggesting that the pair may be due for a pullback or consolidation. In summary, the EURGBP pair is in a long-term downtrend but appears to be in a short-term uptrend. The pair is currently testing a key resistance level at 0.8600, and a break above this level could lead to further bullish momentum. However, if price fails to break above this level and falls back into the symmetrical triangle pattern, it could indicate a continuation of the range-bound market. Traders may want to keep an eye on key support and resistance levels as well as the moving averages and RSI indicator on the 4-hour chart for potential trade opportunities. What's your thought on this?
by Popeson