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Eurgbpanalysis

EURGBP meets strong Demand ZoneIn my last 2 ideas on EURGBP here and here I was short, and we went on to see a nice prolonged drop down to almost a 2 year low. Now that price has touched the lower trendline and 12H RSI has dropped below 30, I believe a short term reversal could be imminent. Price has also entered a strong Demand Zone that has seen 5 significant bounces from this area in previous years. To maximize Risk/Reward I'm looking for a small drop further to 0.83175 for an entry point long, setting a stop loss at 0.82471 (which would represent the lowest price since June 2016), and setting a take profit at 0.84834. This represents a 2.35 R trade, which would require a 29.85% success rate to break even. Note that this is a HIGH RISK trade at 2.35 R and this is NOT financial, trading or investment advice.
Long
by HayeTrading
21
EURGBP LongWe're expecting EURGBP to continue trading within the range after seeing two bullish candlesticks on daily closes over the last two days. We took this trade in November expecting a further push but only had a couple of take profits hit. We've now revised this to take profits on the way up to the top of the range. Price is currently trading at bottom of the channel and we can expect this rise to take place over the coming weeks. trading a rejection or false breakout of trendline is the safest entry with the highest probability for this trade. GBP is pushing its limits at the top of momentum meter so we expect GBP to weaken in the coming weeks. R:R = 1:4:5 GL.
Long
by Life_In_Forex
EURGBP | Strong Bullish SignWhen it comes to EURGBP , we've seen price tested the previous support zone and bounced back each and every time, which clearly show the signs of demand. Now price is making newer highs. And I'm not seeing enough resistance to hold the price till T1, which is the first exit point you should consider. If you find this technical analysis useful, please like & share our ideas with the community. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by maxprofwizard
EUR/GBP WILL MAKE A NEW LOW BEFORE BULLISHEUR/GBP will make new low from $0.83564 or $0.83639 and invalidation level is $0.83700. We are currently on the 4th wave and we will down for final 5th of (C) of ((Y)). DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans. #EUR/GBP #eurgbp
Short
by anantadhungana
1