EUR/GBP Technical Analysis
The counter is currently in an ascending channel pattern.
It fell off recently from the high to lower parallel, where it found support.
Now, it is marching up with momentum indicators like MACD and stochastic on the verge rendering a bullish crossover.
Hence, we expect the pair to be bullish in the near-term.
Eurgbpforecast
EURGBP IdeaHey guys, me again still learning forex been really analyzing the markets so any feedback is really appreciated as it helps me improve as we are in it together.
- Really looking for some action in this one. market does seem bearish so im expecting a break and retest for the area however keep in mind your long opportunity too.
- I will be looking to enter either way on monday depending how the market reacts
EURGBP M15 SHORT PRICE ACTION FORECAST -UPDATE-After a steadfast bearishness with the pair getting close to a previous T/P level from yesterday setup. The pair is currently forming a clear bearish flag, which allows the setup for an additional short entry, adding extra pips
The order:
Type: sell-stop
S/L: 12 pips - R:R | 1:2 -
T/P: aiming towards the support level
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EURGBP H1 SHORT PRICE ACTION FORECAST With the GBP showing some bullish momentum across the board
the EURGBP pair shows a strong bearish bias, a massive sell the last three hours, has diminished any uptrend bias previously presented, to ride the bears a sell stop trade is placed with the following levels
The order:
Type: sell-stop
S/L: 44 pips - R:R | 1:2 -
T/P: aiming towards the support level
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EURGBP SELL IDEAPrice has made its way to a huge reversal zone at 0.91500 which also lines up with the 0.61 fib level indicating it could either reverse or have a pullback at this area . As i am also expecting GBP to strengthen due to lock down measures being eased and the economy getting back on its feet
it makes sense for me to be shorting this pair at this important level.
Always use 1-2% Risk Management.
EDUCATIONAL PURPOSES ONLY.
Short Position Forecast on EUR/GBPOption 1. GREEN
Ideally we are looking for perfection and for price to hit the top of the trend line with a hover and then look to sell to the downside.
Option 2.
Price retraces, forms bear flag which I am happy to take, if price then hovers on the lower trend line then I will potentially also scale to take price further to the downside to the start of the correction at 0.86724
EURGBP H4 LONG PRICE ACTION FORECAST Price action has been trading sideways, with MACD under bearish forces that could bring the price back to test the ascending trendline, in confluence with Fib level 618, a long entry with the following features.
The order:
Type: buy-limit.
S/L: 44 pips - R:R | 1:2.4 -
T/P: target next resistance level from D1
EURGBP H1 LONG PRICE ACTION FORECAST EURGBP has finally breakout the descending trendline at H1 realm, expecting pullback for a continuation of the bullish momentum, we could setup a long entry with the following characteristics
The order:
Type: buy-limit
S/L: 33 pips - R:R | 1:3 -
T/P: aiming towards a resistance level from a higher time frame
EURGBP H1 SHORT PRICE ACTION FORECAST EURGBP has met a strong resistance level from the W1 domain, trading with a channel formation, and later forming a sequence of HL struggling with the descending trendline, price is expected to test back that level for a downtrend continuation.
A short entry from the retest of the trendline could be placed.
The order:
Type: sell-limit
S/L: 22 pips - R:R | 1:2 -
T/P: aiming towards the Fib level 5.0