Eurgbplong
EURGBP: Just continue buying dips!EURGBP
Intraday - We look to Buy at 0.8485 (stop at 0.8445)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The hourly chart technicals suggests further downside before the uptrend returns. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 0.8600 and 0.8710
Resistance: 0.8600 / 0.8710 / 0.8845
Support: 0.8505 / 0.8400 / 0.8295
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EURGBP - Elliott Wave forecast45 angle describes the corrective nature of the pattern.EURGBP has started forming impulsive wave C's sub-wave 3.
It has broken down the correction channel of wave B.
If EURGBP breaks down low of wave X at 0.84819 , then the price will complete its impulse wave C. It is also a support level of 200 EMA. Or it will start marching upward.
Targets: 0.84500 - 0.84421 - 0.84340 and more.
Thank you!
@Money_Dictators
June Week 2: EURGBP Long-term trend signal!Hi friends, I hope y'all had a fantastic weekend ;)
Today, we have possible long-term bullish rally on this baby. I kind of doubt the trade but looking at how the correlating pairs that have GBP as a base currency behaved (by bearish dropping in the previous weeks) instilled faith in planning to take this trade with you guys. Before we do that, lets take a look at how the bulls and bears might behave in triggering and dis-confirming this trade.
Bulls: -If the price bullish breaks and retests the Weekly Neckline 2/ 4th Weekly Key Lvl and 200 m.a (that's visible on my MT4 chart), that will
trigger our trade signal that I call a Double Bottom A-E.2 signal, and the price will rally for the patterns L1, L2, L3 together for the short-
term m.a's trend that will probably end on the last take profit point.
Bears: -If the price bullish bounces off the Weekly Neckline 2/4th Weekly Key Lvl and 200 m.a with a bearish reversal candle pattern close,
before or after taking the trading, that will tell us that the price isn't ready to rally to the last take profit point, and instead it will signal
a drop to our stop loss key level.
That's it for today. I hope you found value in this. If you have a different perspective, feel free to share it in the comments section, I'd love to know your thoughts on this pair!
Stay Blessed,
Doji-2k1
Jamie Gun2Head - Buying EURGBPTrade Idea: Buying EURGBP
Reasoning: Confluence of fib, previous resistance, trend line support
Entry Level: 0.85860
Take Profit Level: 0.85860
Stop Loss: 0.84820
Risk/Reward: 4.47R
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