EUR/GBP Weekly Forecast: Double Bottom Pattern, Bullish ReversalOverview of the Chart
This is a EUR/GBP daily chart, showcasing a Double Bottom Pattern, which is a classic bullish reversal formation in technical analysis. The pair has been in a downtrend for several months, but recent price action indicates a potential shift in momentum.
The double bottom pattern consists of two distinct lows (Bottom 1 & Bottom 2) at nearly the same level, forming a W-shaped structure. This suggests that sellers attempted to push the price lower twice but failed both times due to strong buying pressure at the support zone.
As the price starts to rise from the second bottom, the neckline resistance becomes a crucial level to watch. A confirmed breakout above this neckline would validate the pattern and signal a potential bullish rally.
Chart Breakdown & Key Components
1. Double Bottom Pattern Explanation
The first bottom formed in December 2024, marking the lowest price point where buyers stepped in.
The second bottom formed in March 2025, confirming strong demand in the support zone.
The pattern suggests bearish exhaustion, as sellers were unable to push the price lower.
The neckline at ~0.84778 acts as a key breakout level. Once price moves above it, the bullish reversal is confirmed.
🔹 Why is this pattern important?
It signals a trend reversal from bearish to bullish.
It attracts buying interest as traders recognize the formation.
The measured move suggests a potential target of 0.87307, aligning with previous resistance levels.
2. Key Support & Resistance Zones
✅ Support Zone (0.82249 - 0.82458)
This level has been tested twice, making it a strong demand area.
Buyers aggressively defended this zone, preventing further downside.
A break below this level would invalidate the bullish setup.
✅ Neckline Resistance (~0.84778)
This is the breakout level that confirms the double bottom pattern.
A strong bullish daily candle closing above 0.84778 would indicate a trend shift.
The price may retest this level after breaking out, offering a second entry opportunity.
✅ Major Resistance & Target Areas
0.86251 → The first major resistance zone, where price may face some selling pressure.
0.87307 → The final target based on the pattern projection, aligning with historical resistance.
3. Trading Setup & Execution Plan
🔹 Entry Strategy (Breakout Confirmation)
Enter a buy position after the price breaks and closes above the neckline (~0.84778).
A retest of the neckline provides a second chance to enter at a better price.
Look for high volume confirmation on the breakout for additional confidence.
🔹 Stop Loss Placement (Risk Management)
Place the stop-loss below 0.82249, just under the support zone.
This ensures protection against false breakouts.
Avoid placing the stop too tight, as price fluctuations can trigger early exits.
🔹 Take Profit Levels (Reward Calculation)
First Target: 0.86251 (Intermediate Resistance Level)
Final Target: 0.87307 (Measured Move Projection)
Partial profits can be taken at 0.86251, while runners target 0.87307.
🔹 Risk-Reward Analysis
Entry near 0.84778, stop loss below 0.82249, target at 0.87307.
This setup offers a risk-to-reward ratio (R:R) of over 3:1, making it a highly favorable trade.
4. Market Sentiment & Potential Scenarios
Bullish Scenario (High Probability) ✅
Price successfully breaks above the neckline at 0.84778.
Retests the neckline and holds as new support, leading to strong bullish momentum.
Moves toward 0.86251 first, then extends to 0.87307.
This scenario aligns with technical confirmation & volume breakout strategy.
Bearish Scenario (Low Probability) ❌
Price fails to break the neckline and faces rejection.
The pair revisits the support zone (0.82249 - 0.82458) for a third test.
If the support breaks, it could invalidate the bullish setup, leading to continued downtrend.
5. Final Thoughts & Summary 🎯
✅ Pattern Identified → Double Bottom, signaling bullish reversal.
✅ Breakout Level → Watch for confirmation above 0.84778.
✅ Risk Management → Stop loss below 0.82249.
✅ Profit Target → 0.86251 (Partial Profit), 0.87307 (Final Target).
✅ Trade Plan → Buy on breakout, retest entry for better positioning.
🔥 This is a high-probability bullish setup! Watch for breakout confirmation before entering a trade.
Eurgbplong
EUR/GBP Chart Analysis – Double Bottom Reversal & Breakout Setup1. Market Structure & Context
The EUR/GBP daily chart presents a well-defined double bottom reversal pattern, indicating a potential trend shift from a prolonged downtrend to an uptrend.
The pair has been in a bearish phase, as reflected by the descending trendline.
However, price action suggests a possible trend reversal, as buyers are stepping in near a key demand zone.
A successful neckline breakout would confirm the bullish reversal, potentially leading to significant upside movement.
2. Key Chart Patterns & Technical Levels
A. Double Bottom Formation (Bullish Reversal Pattern)
The double bottom is a powerful reversal pattern, often signaling the end of a downtrend. It consists of two similar low points, forming a "W" shape.
Bottom 1: The first low was established around 0.8200 - 0.8250, where buyers initially stepped in to push prices higher.
Bottom 2: Price retested this demand zone, but sellers failed to push it lower, confirming a strong support level.
Bullish Significance: The inability of sellers to break below the support zone suggests the exhaustion of selling pressure and increasing buy-side interest.
B. Neckline Resistance & Potential Breakout Zone
The neckline resistance is drawn around 0.8450 - 0.8500, a key level where previous price rallies were rejected.
A breakout above this zone, ideally with strong bullish volume, would validate the double bottom pattern and trigger a bullish breakout trade.
C. Descending Trendline Breakout Attempt
The long-term downtrend resistance (trendline) has been holding since mid-2024.
Price is currently testing this trendline; a clear breakout and retest would add further confidence to the bullish bias.
3. Trade Setup & Execution Plan
A. Entry Strategy
There are two possible entry strategies, depending on risk appetite:
Aggressive Entry: Buy immediately upon a breakout above 0.8500, anticipating a strong rally.
Conservative Entry: Wait for a breakout + retest of the neckline before entering, ensuring confirmation.
B. Stop Loss & Risk Management
Stop Loss (SL): Placed below the recent swing low at 0.82029.
This level acts as the last line of defense for bulls; if price drops below it, the bullish thesis is invalidated.
C. Take Profit (TP) Targets
TP1: 0.86122 (first resistance zone, a previous swing high).
TP2: 0.87284 (higher resistance level, next supply zone).
These levels serve as potential profit-taking areas where sellers may re-enter the market.
4. Additional Technical Confluences Supporting Bullish Bias
✔ Key Support Zone Holding Strong – The price has bounced twice from the demand zone (0.8200 - 0.8250), confirming strong buyer interest.
✔ Volume Confirmation Needed – A breakout with high volume increases the probability of sustained bullish momentum.
✔ RSI & Momentum Indicators – If RSI crosses above 50, it would further confirm bullish momentum, supporting the breakout trade.
✔ Favorable Risk-to-Reward Ratio (RRR) – A well-defined stop loss & take profit strategy ensures an optimal trade setup.
5. Summary & Final Trading Plan
Current Market Bias: Bullish if neckline breaks (Double Bottom Confirmation).
Entry Confirmation: Look for a breakout above 0.8500 with strong volume.
Profit Targets:
TP1: 0.8612
TP2: 0.8728
Stop-Loss Level: Below 0.8202 to protect against fake breakouts.
🚀 Final Tip for Traders:
Monitor price action & volume closely. A breakout without volume may lead to a false move. Confirmation with bullish momentum is essential for a high-probability trade setup.
EUR/GBP Chart Analysis – Inverse Head & Shoulders Bullish SetupThis EUR/GBP 1-hour chart showcases a classic Inverse Head & Shoulders (H&S) pattern, signaling a potential trend reversal from bearish to bullish. This pattern is considered one of the most reliable technical formations for spotting upcoming upward momentum, particularly after a prolonged downtrend.
🔎 Market Overview
Currency Pair: EUR/GBP
Timeframe: 1-Hour (H1)
Current Price: 0.83720
Trend: Transitioning from a downtrend to a potential bullish breakout
Key Pattern: Inverse Head & Shoulders
Trading Bias: Bullish (Pending breakout confirmation)
📊 Chart Breakdown & Technical Analysis
1️⃣ Market Structure & Trend Analysis
Before the formation of the Inverse Head & Shoulders, the market was in a strong downtrend, making lower highs and lower lows. However, buyers started stepping in near the 0.8350 level, preventing further decline. This rejection at key support has set the stage for a potential trend reversal.
Left Shoulder: Price formed a minor low around 0.8370, followed by a small bounce.
Head: Price made a deeper low around 0.8351, confirming strong support and buyer interest.
Right Shoulder: Price attempted another dip but failed to break below the previous low, forming a higher low near 0.8370, signaling increasing bullish pressure.
Neckline Resistance: 0.8385 - 0.8390 zone – a crucial level that price needs to break for confirmation of an uptrend.
2️⃣ Key Support & Resistance Levels
Support Level: 0.83513 (Major demand zone)
Resistance Levels:
Neckline: 0.8385 - 0.8390 (Breakout confirmation zone)
Major Resistance: 0.84308 (Target level)
Curve Zone: A dynamic resistance trendline that has been containing price action. A breakout above this curve signals a potential shift in trend.
📈 Trading Strategy – Bullish Breakout Plan
✅ Entry Strategy:
A long trade should be considered only after a confirmed breakout above the neckline (0.8385 - 0.8390). The confirmation comes when:
A strong bullish candle closes above the neckline.
Increased trading volume supports the breakout.
A possible retest of the neckline as new support (0.8385) before continuation.
🎯 Target Price & Stop Loss:
Take Profit (TP): 0.84308 (Projected move based on pattern size).
Stop Loss (SL): Below 0.83513 (Right Shoulder low).
Risk-to-Reward Ratio (RRR): 1:2 or higher, making this a high-probability trade setup.
🛑 Risk Management & Trade Confirmation:
Volume Confirmation: A breakout should be accompanied by a volume spike, confirming strong buyer interest.
Fakeout Warning: If price briefly breaks above the neckline but then falls back below, it could be a false breakout. In this case, waiting for a retest would be a safer approach.
Trailing Stop: Once price moves toward 0.8410, a trailing stop can help secure profits in case of market reversals.
🧐 Summary – Key Takeaways
✅ Inverse Head & Shoulders Identified – A reliable bullish reversal pattern.
✅ Breakout Zone: 0.8385 - 0.8390 (Watch for confirmation).
✅ Target Price: 0.84308 (Potential profit zone).
✅ Stop Loss: Below 0.83513 (Protect against downside risk).
✅ Risk-to-Reward Ratio: Favorable (1:2 or better).
✅ Trading Plan: Buy above the neckline, aim for 0.8430, and manage risk properly.
📌 Final Thought: If the neckline is broken with strong momentum, expect a bullish move toward 0.8430+. However, traders should remain cautious of potential fakeouts and manage risk accordingly.
📢 Share your thoughts in the comments! Are you bullish on EUR/GBP? 🚀📊
#EURGBP #ForexTrading #TechnicalAnalysis #TradingSetup #InverseHeadAndShoulders
EUR/GBP Bullish Flag (18.3.25)The EUR/GBP pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Bullish Flag Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position around Trendline Of The Pattern.
Target Levels:
1st Resistance – 0.8433
2nd Resistance – 0.8448
🎁 Please hit the like button and
🎁 Leave a comment to support for My Post !
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI_TA_TRADING
Thank you.
EUR/GBP Technical Analysis - 4H Chart
📌 Pair: EUR/GBP
📈 Current Price: 0.84092
Key Levels:
🔹 Support Zone: 0.83766 - A key area where price has previously bounced.
🔹 Resistance Zone: 0.84400 - A strong resistance level where price has faced rejection.
🔹 Target Level: 0.85004 - Potential bullish target if price breaks above resistance.
Market Structure & Trade Idea:
EUR/GBP has shown strong bullish momentum, breaking above the support zone (0.83766).
Currently, price is testing the resistance level. A slight pullback toward support could provide a new buying opportunity.
A break above resistance would confirm bullish continuation toward 0.85004.
Trading Plan:
✅ Bullish Scenario: Wait for a pullback to 0.83766 before entering long, targeting 0.85004.
✅ Bearish Scenario: If price breaks below 0.83766, a deeper retracement to 0.82652 may follow.
🔍 Watch for:
Breakout confirmation above resistance.
Strong rejection from support before entering a trade.
EURGBP uptrend - continuing⭐️Smart investment, Strong finance
⭐️EURGBP INFORMATION:
EUR/GBP extends its winning streak since March 3, hovering around 0.8440 during Tuesday’s European session. The pair gains momentum as the European Union (EU) considers boosting defense spending through joint borrowing, EU funds, and an expanded role for the European Investment Bank (EIB), with crucial decisions anticipated by June.
⭐️Personal comments NOVA:
EURGBP H1 breakout price zone retreats, continuing the uptrend
⭐️SET UP EURGBP PRICE:
🔥BUY eurgbp zone: 0.84200 - 0.84100 SL 0.83800
TP1: 0.84500
TP2: 0.84800
TP3: 0.85200
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
EURGBP at Key Demand Zone - Rebound Toward 0.83000?OANDA:EURGBP has reached a critical demand zone, marked by previous price reactions and strong buying pressure. Historically, this area has acted as a significant support level, leading to bullish reversals.
If buyers step in and confirm a rejection, we could see a move toward the 0.83000 level, which represents a logical target within the current market structure. However, a break below this demand zone would invalidate the bullish outlook and open the door for further downside.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
Scenario on EURGBP 13.2.2025On this chart, I see the situation like this: if I should take a short, then the first sfp at the price level of 0.83800-0.84000, if I should be interested in a long position, then the first target that makes more sense to me is the sfp at the price of 0.8300, other scenarios are other alternatives where the market could react if certain conditions are met
EURGBP: What Are You Anticipating With This Volatile Pair?I am a swing trader, as you can probably tell from the timeframes I use in my posts. However, I do believe that EURGBP lends itself better to day trades or position trades, if you can stomach the movement. Considering it has made, for me, surprising reverses just when you think it would push further, I offer a couple of scenarios for both a sell and buy possibility. I do see EURGBP selling further but this is a pair you want to be prepared for movement in the opposite direction as well. Game plan, ready! What would be your move?
EURGBP - Long active !!Hello traders!
‼️ This is my perspective on EURGBP.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I expect price to continue bullish price action after filling the imbalance and rejecting from bullish OB + institutional big figure 0.83000.
Fundamental news: On Thursday (GMT+2) we will see results of Interest Rate on GBP, news with high impact on currency.
Like, comment and subscribe to be in touch with my content!
EURGBP, First Long and after that Get Ready for ShortHello Traders, Hope you are doing great.
for upcoming weeks, we'll probably see continuation of upward momentum and after that we'll probably find an opportunity to Sell at one of these specified zones. so with a proper trigger we can open a long at first and after that a short position.
And finally tell me what do you think ? UP or DOWN ? leave your comment below this post.
If this post was helpful to you, please like it and share it with your friend.
THANKS.
EUR/GBP at Critical Resistance – Major Move Incoming?What’s great everyone!? Mr. Blue Ocean FX here, breaking down EUR/GBP with an in-depth analysis you don’t want to miss.
Starting from the higher timeframes, we’ve identified a major trendline resistance dating back to January 2023, which has been tested multiple times and is now being challenged again. After a massive impulse move from the 0.8275 area in late December, price has surged to the current levels around 0.8472, but signs of weakness are starting to emerge.
Looking closer at the daily timeframe, we’ve seen a clear rejection off the trendline with significant bearish volume stepping in yesterday—indicating strong selling pressure after a liquidity grab above 0.8444. With a confirmed daily close below 0.8434, we’re now eyeing potential downside targets.
Dropping down to the H1 timeframe, we’re observing a lower high formation, which could signal a continuation lower. I’ve already entered this trade with a high-risk, high-reward approach, placing stops above the recent high and targeting multiple liquidity areas below.
Key levels to watch:
• First target: 0.8433, sweeping liquidity.
• Next: 0.8413 (double bottom) and ultimately 0.8335 if momentum continues.
If we break below key support at 0.8410, this could trigger a much larger drop into untested levels from past price action, potentially targeting the 0.8146 area.
The next few candles will be crucial—will EUR/GBP hold this level or melt down further? Stay tuned and let’s see how it plays out!
If you’re finding value in these breakdowns, make sure to boost, share, and comment with your thoughts. Let’s make some moves!
EURGBP to continue in the bullish channel?EURGBP - 24h expiry
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 0.8429.
We look to buy dips.
Dip buying offers good risk/reward.
A break of the recent high at 0.8463 should result in a further move higher.
We look to Buy at 0.8431 (stop at 0.8409)
Our profit targets will be 0.8489 and 0.8499
Resistance: 0.8454 / 0.8464 / 0.8485
Support: 0.8436 / 0.8420 / 0.8404
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
EURGBP - Look for a long position !!Hello traders!
‼️ This is my perspective on EURGBP.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look for a long. I want price to make a retracement to fill the imbalance lower and then to reject from bullish OB + level 0.83000.
Fundamental news: Upcoming week on Wednesday (GMT+2) we will see results of yearly CPI on GBP, news with high impact on currency.
Like, comment and subscribe to be in touch with my content!
EURGBP TRADE IDEA: LONG | BUY (01/01/25)Happy New Year!
I might actually end up being wrong on this one because the order flow actually seems to be bearish.. I’m essentially betting on the potentially of it reversing/my predicted low to be protected. If you’re already in a sell congratulations, this trade idea is taking advantage of the incoming buy. My issue is the TP. I don’t know if it’ll get hit. Enjoy and trade safely!
#EURGBP 1DAYEURGBP (1D Timeframe) Analysis
Market Structure:
Trendline Breakout: The price has moved above a previously established trendline, indicating potential bullish momentum.
Forecast:
Buy Opportunity: The breakout suggests a shift in trend direction, favoring buyers. Further upside movement is expected as long as the price sustains above the broken trendline.
Key Levels to Watch:
Entry Zone: After breakout confirmation or upon retesting the broken trendline as new support.
Risk Management:
Stop Loss: Placed below the trendline or recent swing low.
Take Profit Zones: Focus on upcoming resistance areas and psychological price levels.
Market Sentiment:
Positive Momentum: A breakout above resistance typically reflects strengthening buying interest and potential continuation of the upward move.
Mon 16th Dec 2024 EUR/GBP Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a EUR/GBP Buy. Enjoy the day all. Cheers. Jim
EURGBP - Short from bearish OB !!Hello traders!
‼️ This is my perspective on EURGBP.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. My point of interest is imbalance filled and rejection from bearish OB.
Fundamental news: On Thursday (GMT+2) we will see results of Interest Rate on EUR, news with high impact on currency.
Like, comment and subscribe to be in touch with my content!