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Eurgbplong

EURGBP: Sterling weaker?EURGBP Intraday - We look to Buy at 0.8835 (stop at 0.8740) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. This is positive for sentiment and the uptrend has potential to return. The hourly chart technicals suggests further downside before the uptrend returns. Preferred trade is to buy on dips. Our profit targets will be 0.9100 and 0.9200 Resistance: 0.9200 / 0.9340 / 0.9600 Support: 0.8825 / 0.8720 / 0.8630 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets
EURGBP Forecast: Will the price rally? EURO POUND NEWS AND ANALYSIS Recent developments in the UK are pushing the price up. The ECB Press conference might say otherwise at 14:45. Price is forming a bullish head and shoulder pattern on the monthly that's accompanied by a double bottom on the weekly time frame. Fundamental Outlook The pound has been rallying up lately. Market seems to be reacting to the appointment of the new UK's prime minister - Liz Truss, as a leader of the ruling conservative party. The campaign that was ran by Truss had a significant impact because it promised to support households through this time of soaring inflation with tax breaks cited as one of the mechanisms of easing the current cost of living crisis. In addition, Truss plans to assist in the region of 40 billion pounds to business with rising energy costs. Therefore, the promises of relief to households and businesses is likely to support the pound in the short-run. Monthly Technical Outlook As you can see, the current price is fully forming the head and shoulder pattern, bullish break and retesting the the 50 and 21 moving average to currently trying to do the same on the Monthly Half a Bat Neckline. If the price does that and continues to rally to break and retest the Monthly H&S Neckline together with bullish crossed short-term moving averages, that will signal an upcoming 3 level uptrend. But if the price bounces off the Monthly H&S Neckline with a bearish reversal pattern that leads the price to bearish break and retest the 50 and 8 moving average, that will signal an upcoming drop. With that said, we're looking at an either or situation. Weekly Technical Outlook In the weekly chart image, we have the price currently bullish running in the double bottoms 1st level. The pattern expects the 2nd and 3rd levels to be formed. That will happen if the price continues to bullish break and retest the monthly key levels that are in line with the weekly ones (as you can see). If the price bounces off the Monthly H&S Neckline, that will signal a rejection of both the monthly and weekly signal, which will likely drop the price for the monthly's bearish trend. That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share in the comments section, I'd love to know your thoughts! Stay Blessed, Sphatrades.
Long
by Doji-2k1
1