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Eurgbpforecast

SHORT EUR/JPY from .8642Since the middle of last week we have seen all GB P pairs selling off. GBP/JPY was a gift of a week last week for traders as price repeatedly hit areas of resistance only for GBP/JPY BEARS to push the price south. Every trading day last week the price of GBP/JPY hit the WR1 pivot and retreated and the WR1 and WS1 pivots are key to my trading as you can plot these at the start of week and plan for when/if the price hits. In the last few hours we can see GBP is rising. WS1 has been hit across several GBP pairs and its clear that there is some BULLISH momentum around. Obviously, if GBP is rising then EUR/GBP will fall. The price has just failed to reach WR1 and its not impossible EUR/GBP BULLS may try to take the price to this level but its also possible that EUR/GBP BEARS will jump on this pair and drive the price south. RSI was as high as 88 a couple of candles ago but now is reading 73. MACD on the lower timeframes is signalling SHORT and the Andean Oscillator sees the red SELL line reading over zero having been flat. The path of least resistance is south and the BULLS have it all to do to push back into overbought to move the price higher. STOP for this is a hard stop at .8650 (8 pips) and the target initially is .8583 which is WPP mid pivot though the I'll close the trade if there are signs of any BULLISH recovery.
Short
by forextraplaces
EURGBP / LONG TRADE IDEA✅💡Hello Traders! I'm looking for a long trade on EURGBP. I see that FVG is partially closed, I expect it to be fully closed and after that, I will look for a long entry in case of confirmation. Also, it could be a good opportunity to look for long trades in a smaller timeframe. Please LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍ if you enjoy this idea! Also, share your ideas and charts in the comments section below! This is the best way to keep it relevant, support us, keep the content here free, and allow the idea to reach as many people as possible. ____________________________________ www.tradingview.com
Long
by GoodTradeST
EURGBP Trade Idea - VideoRegarding the previously posted EURGBP trade idea, this video provides an explanation of the thought process behind considering this trade opportunity. On the 1-hour timeframe for the EURGBP currency pair, the price has broken through the established structure to the downside. We can observe the formation of lower highs and lower lows, indicating a potential bearish trend. The plan is to look for a short entry on a retracement, targeting the previous low levels as indicated by the chart markup. This information is presented for educational purposes only and should not be considered financial advice.
Short
by fxtraderanthony
LONG EUR/GBP from .8545I've just gone LONG on this pair for the following reasons. We've hit WS1 support pivot level and price is now moving away from it. RSI on H1 was under 30 and now its reading 35.45. MACD is still lagging behind but the BEARS strength has reduced significantly. The Andean Oscillator was at zero and has now move away from zero with a reading of .00008. Price has hit a recent Pivot Point SuperTrend BUY line. My STOP on this trade is at .8537 which is a minimal 8 pips - this is a hard STOP and will not be adjusted. Target initially is the WPP mid pivot at .8559 (+14) but if we reach that level and the BULLS are still in control, then I'll adjust the T.P. higher.
Long
by forextraplaces
7 Dimension analysis for EURGBP 🕛 TOPDOWN - Navigating a Sideways Consolidation Overview: This pair has been trading in a sideways range between 0.9501 and 0.8260 since 2017, establishing a considerable consolidation area. The monthly chart reflects a vast consolidation region, making it one of the most consolidated pairs in forex, lacking a clear direction. On the weekly chart, after forming a valid low, the pair initiates an upward move, seemingly with a short post-breakout buildup. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Corrective, nearing a valid Point of Interest (POI). 🟢 Inducement: Completed, forming a valid high, with prices approaching a potential buy area. Anticipating the 1st pullback, which might be deep at extreme levels. Internal structure appears bearish with an unmitigated overbought (OB) scenario. 🟢 Support/Resistance Areas: Support, Demand, Accumulation areas are vital, marked with trendlines. Identifying potential buy entries in these zones. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal Double bottom formation indicative of a potential reversal. 🟢 CANDLE PATTERNS Key Observations: The last candle, a significant bear candle, indicates profit booking by climax players. Momentum candles reflect strict bearish momentum, but bear in mind that substantial bear candles near support might not have significant implications. Climax players' activity in the area warrants careful observation. 3️⃣ Volume: High volumes at both the beginning and end, signaling bullish volume. There's a high chance of price reversal or support emergence from these levels. 4️⃣ Momentum RSI: 🟢 Momentum State: In a sideways zone. 🟢 Divergence: Two consecutive bearish divergences indicate active bears, although a bullish divergence is currently forming. 5️⃣ Volatility Bollinger Bands: 🟢 Bands are below the middle band, suggesting a bearish trend. However, a punch from the upside signals strong bearish pressure. 6️⃣ Strength - ROC Values: EUR is stronger than the bears. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bullish ☑️ Current Move: Corrective ✔ Support Base: Previous support area ☑️ Candles Behavior: Climax player activity, record session count with an extreme bearish candle unable to break support. ☑️ Trend Line Breakout: Not yet observed. ☑️ Final Comments: Buy at the support. 💡 Decision: Buy once the price reaches the support area. 🚀 Entry: 0.8670 ✋ Stop Loss: 0.8647 🎯 Take Profit: 0.8831 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 30 days SUMMARY: The analysis focuses on a bullish scenario, given the corrective move and potential support areas. However, cautious optimism is advised, considering bearish momentum and climactic activity. The strategy revolves around waiting for the price to reach a key support level for a buy entry, aligning with the broader bullish outlook.
Long
by Optimum369