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Eurgbpsell

EURGBP analysis:Bulls have run out of time?EURGBP analysis as shown here is based on Elliott wave analysis. The 4hr timeframe of the EURGBP as shown below from May 17, 2018 to market close (Friday, July 20, 2018) is corrective with a 3 wave price swing (zigzag Elliott wave structure) between the mentioned dates above. Price levels to watch include the 38.2%, 50% and 61.8% retracements of the upswing. These are ~0.88386, 0.88036 and 0.87686 respectively. The minimum expectation for a bearish swing in EURGBP is the 38.2% level as indicated on the chart by the downward blue arrow, while the horizontal blue lines are used to mark the 50% and 61.8% where support is anticipated for the EURGBP.
Short
by Coin_Analyst
4
EUR/GBPFundamentals:- After a failed trade on this currency pair today we still believe the downside is imminent. Why? After a subdued super Thursday from the BOE and no change in either rate hike or votes by the MPC. Mark Carney later said in an interview with the BBC that it was likely rates would rise before the end of this year. With the outlook for Europe pushing possible rate hikes back to 2019 I would expect the GBP to gain the edge over the Euro in the coming days. Technicals:- After the rate decision from the BOE the price pulled back to a previous resistance level. You could take this trade at market or wait for it to retest the high on the 4th of may. The stochastic is now overbought and sellers are trying to push the price down from this level.
Short
by FreeForexSignals4u