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Eurgbpforecast

EURGBP Multi-timeframe analysis Daily - Since 24th of November market rejected the 0.88610 zone and moving from HL to forming a possible HH. Our target is to catch a buy in this move. 4H-Break the downtrend structure and now we are at the 0.89958 key zone with market forming a second HL. We already have a bullish engulfing as a confirmation and with more bullish elements we could get our Buy setup on Lower Time Frames (LTF). Using 1H for confirmation and 30m for our entry, since both are on a downtrend forming a LH, will wait probably another 3 to 6 hours until market find a new HH and HL, otherwise the Scenario 2 (S2) will be our future setup. Will keep you updated. Please follow us for future analysis and ideas. Sam
Long
by Capitalflowsam
EurGbp- will it finally reverse?Since mid-September top at 0.93, EurGbp's evolution has been very frustrating, with one day up, one day down, 2-3 days down, then reverse strongly, etc The pair managed to drop almost 500 pips in this manner, but trading it was more of a gamble... Now I think Eur finally reached an important bottom, support that acted as resistance/support all 2020. The pair broke above the descending trend-line now and, if we look at the weekly chart, we can clearly see a bullish engulfing candle formation. I'm bullish on this pair and I will look for opportunities to buy for a 0.9150 target
Long
by Mihai_Iacob
2