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Eurgbpsell

EURGBP right on major resistance, potential drop!EURGBP is now testing major resistance at 0.8911 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) and a strong drop could occur from this level to push price down to 0.8747 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURGBP is reacting nicely off major resistance,bearish potentialEURGBP has reacted nicely off major resistance at 0.8911 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could continue from this level to push price down towards 0.8747 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 95% where it reacted nicely off. Huge downside potential for a further drop. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURGBP testing major resistance, potential reversal!EURGBP is now testing major resistance at 0.8911 (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension) and a strong reaction could occur at this level to push price down to at least 0.8747 support (Fibonacci retracement, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
EURGBP range bound trade set-up to avoid Dollar messrectangle range set-up is one of the high potential trade set-ups since December last year, usually it breaks the rectangle to the downside. This pair is in range bound and have already tested the support twice, if price fail to break to the upside then the chances are price will break the counter-trendline and will break below the rectangle support. Wait for RSI to reach over bought region or break of the counter trend line to the downside in lower time frame or a potential upside move if price break the region which seems unlikely at the current price movement.
Short
by rf16saun
EURGBP right on major support, prepare for a bounce!EURGBP is now testing major support at 0.8766 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and a bullish bounce could occur at this level pushing price up to at least 0.8914 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (21,5,3) is seeing major support above 4.3% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
EURGBP back to major support, potential upcoming bouncePrice is back to major support at 0.8842 (Fibonacci retracement, horizontal overlap support) and a strong bounce could potentially occur at this level to push price up to at least 0.8972 resistance (Fibonacci extension, channel resistance, horizontal swing high resistance). Our next major leve of support is at 0.8786 (Fibonacci retracement, swing low support). Stochastic (34,5,3) is seeing major support above 4.3% where a potential corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
EURGBP approaching channel resistance, keep an eye out on this!EURGBP is approaching major channel resistance at 0.8972 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, channel resistance) and a strong reaction could occur at this level to push price down to at least 0.8842 support (Fibonacci retracement, horizontal overlap support). Our next major level of resistance is at 0.9027 (major swing high resistance). Stochastic (34,5,3) is seeing major resistance below 98% and a corresponding reaction could occur at this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1