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Eurgbpsell

Which way for EUR/GBP - can it break the channel?Since early April EUR/GBP has been stuck in a 200 pip channel. Currently price is pushing the upper line of the channel and this week we saw WR1 pivot taken out and price reaching WR2. RSI readings on all time frames are over 60 other than D1 (58) and M15 is reading 70. The Daily R1 pivot is at .8873 which is 10 pips from where we are now. GBP is generally BEARISH but EUR is drifting sideways rather than pushing higher. Difficult to call the direction on where we might be headed next. German Prelim. GDP hit target so no clues there. So far the channal is holding but I suspect we could be headed lower from these levels for a retest of the bottom channel. I'm looking for SHORT trades only as there seems little mileage in LONG trades. A shift in sentiment favouring the GBP could see a nice SHORT trade - lets wait and see.
Short
by theforexportal
EURGBP ON RESISTANCE LINEHello Traders I'm here with a new forex idea and analysis, Kindly share your LOVE by giving me LIKES and COMMENTS. Share with more traders like you. Follow me for more. Thanks in advance. EURGBP IS CURRENTLY ON RESISTANCE LINE Please support this idea with a LIKE if you find it useful. Thank you for reading this idea! I hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial Advice. Do you want to catch those pretty pairs like this also? Join our telegram channel for free profitable trades, link below👇👇👇 t.me Free Signal Group✅ We Analyse Profitable trades for our followers. Join our Facebook page, link below👇👇👇 www.facebook.com
Short
by Daily_Price_Action
1
EURGBP | Get read for the DROPThe pair EURGBP has been in a bearish trend since the 1st of April 2020. By looking at the monthly chart we can immediately notice that there is a strong resistance level that the market rejected in March and April 2020. In March 2020, the market rejected this area and created a 600 PIP wick. When the market rejected this price level in April 2020, we saw 193 PIP move to the downside. We can also see a very short top wick on the on the April 2020 candle, indicating big bear pressure. Now that we know this information, we have to look at the lower time-frames to get a better idea of how to trade this pair. Looking at the 4H time-frame we can notice that we have a strong resistance area between 0.88466 and 0.88627, marked on the chart as "Selling Zone". We're expecting the market pullback from the strong resistance zone, with our target at 38.20% fib level as target 1 and 61.80% fib level as target 2. Stop loss is placed above resistance zone just in case we get huge wick to the upside. - Fundamentals to watch out for: 1) U.K. Gross Domestic Product (GDP) @ Wednesday, May 13th 2020, 9:00 AM GMT +3:00 2) U.K. Manufacturing Production MoM @ Wednesday, May 13th 2020, 9:00 AM GMT +3:00 3) U.K. Extension of lock down, which indicates weaker GBP. Risk ONLY: 2-3% Good Luck!
Short
by UncleBullFX
EUR/GBP in a flag - which way will it break? SHORT is my guessSince the end of March, EURGBP has been locked in a 180 pip range flag. We've just seen the top of this flag rejected and with WR1 pivot in this area it seems unlikely that we'll see price move higher any time soon. I'm in SHORt at the top of the flag at .8800 with a 20 pip STOP. We should see a move down to the bottom of the flag now at .8700 area. If this level is tested and fails then we could see a large move south as there's little support if price breaks .8660. One to watch.
Short
by theforexportal
EURGBP. Will the price break through the support level?Hello dear subscribers! The price of Euro continues to fall to the level of support. Do not make a deal, because the profit will not be great. If the price breaks the support level, then this is a sell signal, because the currency can fall to the bottom. Watch for price developments. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.
Short
by UnknownUnicorn6402893
1
EURGBP: Bullish Technicals and Fundamentals 4H (Apr. 21)X FORCE GLOBAL ANALYSIS: In this analysis, we explore the bullish probabilities of EUR/GBP based on the bullish evidence suggested by technicals and fundamentals. Technicals - We have seen a breakout from the bullish falling wedge pattern - After Elliott Triangle Wave (ABCDE) counts to Wave E, we formed a double bottom - The Relative Strength Index (RSI) shows higher lows, as a sign of trend strength - The Moving Average Convergence Divergence (MACD), despite not showing tremendous momentum, shows an uptrend Fundamentals - The United Kingdom runs a large current account deficit, which makes the pound vulnerable as capital flows faded at the height of the Corona Virus (Covid-19) driven risk sell-off - GBP remains fundamentally undervalued with a significant Brexit discount still attached - With the COVID-19, both the EU and the UK have been preoccupied with issues other than Brexit trade agreement talks; this increases the risk of a big negative UK trade shock in 2021 What We Believe We believe in a higher probability for a further bullish rally for EUR/GBP based on the bullish technicals and fundamentals Trade Safe.
Long
by XForceGlobal