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Eurgbpshort

EURGBP - BEARISH BIAS===== MARKET OUTLOOK ===== EUR - BEARISH 1️⃣ Last week, GDP figures showed the Eurozone entered a double-dip recession in the first quarter, with Germany, Italy and Spain falling back into contraction territory and France returning to growth. 2️⃣ Most of euro area still in lockdown. 3️⃣ Downward revisions to EZ PMIs GBP - BULLISH 1️⃣ Bank of England expected to raise their economic projections. 2️⃣ UK in the process of ending restrictions with goal of ending them in June. ===== TECHNICAL ===== - We're looking to short this pair on SMA50 area + SBR level on H1 chart with 20 pips stop loss. ===== RISK TO THIS TRADE ===== - If BoE sound dovish, this trade will hit stop loss.
Short
by MonsunAsia
eurgbp outlook for today/ next week on this pair you can see we are sitting on a lvl of structure @ 0.86725 however we are not making any progression away form it, this to me creates a liquidity pool below market because the more time price rejects the more people are inclined to buy this lvl as its deemed "strong" , this end up with lots of stops below a "strong" lvl. now as we know the market is gravitated towards liquidity so in my opinion there is a high probability the market is going to drop below taking any stops out and making sell side liquidity (when you have a buy order in the market and your stop loss is hit you are selling back into the market at a disadvantageous price and you pay the cost of the difference) now back to the trade idea haha, I am looking to get a break below structure and a retest to go short alongside liquidity, we also have an untested lvl with fib and ema and atr confluence below market @ 0.86427 I will be looking to buy this lvl after I close my short out
by jedbachen
1
** EURGBP ** short trade currently openEvening all, some great results from this weeks forward testing of the strategy. The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too.
Short
by AL-1-
EURGBP - Bearish BiasEUR - BEARISH 1️⃣ Investors remained cautious ahead of the ECB monetary policy meeting due Thursday, with no changes to rates or guidance expected. GBP - BULLISH 1️⃣ Consumer prices are seen rising in the coming months, due to an increase in regulated household energy bills, higher global oil prices and comparisons with prices a year ago when the country was under a strict COVID lockdown. 2️⃣ Britain's unemployment rate fell for a second month in a row to 4.9%. ===== Technical ===== - We are selling the EURGBP at the resistance on the M15 chart. This is short term trading strategy from Monsun Asia. - Risk reward ratio is 2:1. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Short
by MonsunAsia
2