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EURGBP.P trade ideas

Analysis of EUR/GBP on 4H Time FrameKey Terminology & Concepts Wyckoff Method: A technical analysis method that breaks down market behavior into phases of accumulation, distribution, and the price cycles within them. In this case, the focus is on accumulation and last point of support (LPS). Elliott Wave Theory: A concept used to identify market cycles in the form of five waves in impulse movements (labeled 1-5) and three waves in corrections (labeled A-B-C). Point of Control (POC): Refers to the price level where the highest trading volume occurs, often indicating key resistance or support zones. Fibonacci Retracement: A technical tool used to predict possible reversal levels by using common Fibonacci ratios like 23.6%, 38.2%, 50%, 61.8%, and 78.6%. LPS (Last Point of Support): This is the point at which the final price test occurs before the beginning of a major uptrend, in the Wyckoff accumulation phase. Analysis Breakdown Wyckoff Accumulation Structure The chart suggests that EUR/GBP is in a Wyckoff Accumulation Phase, signaling the end of a downtrend and preparation for a potential reversal: SC (Selling Climax): This marks the point where the most aggressive selling occurred, leading to a sharp decline. AR (Automatic Rally): Following the selling climax, there was a strong upward reaction, showing the first sign of buyers returning. ST (Secondary Test): Price revisited lower levels but formed higher lows, indicating accumulation of positions. In this phase, the price is expected to test key support lines labeled as SC accumulation (4H) and SC accumulation (1D), which represent areas of strong buyer activity. Elliott Wave Count The Elliott Wave count within the chart is suggestive of an upcoming impulse wave following a complete corrective structure: The price is currently in Wave A of the larger A-B-C corrective pattern. Following Wave A, a Wave B correction is expected to occur, moving upward towards key Fibonacci levels and resistance zones. Wave C will follow as a final upward movement before a larger reversal. Key Levels & Fibonacci Retracement Several Fibonacci levels are identified in the chart, crucial for determining potential reversal points and entry/exit strategies: 0.618 Fibonacci level (0.8504): This level acts as a key resistance point, expected to be tested during the Wave B correction. This zone aligns with previous resistance lines from earlier AR Accumulation. 0.786 Fibonacci retracement (0.85596): This is the higher level of resistance and the mitigated order flow zone where the price might face strong selling pressure, marking the end of the upward correction. Phases of Accumulation & Distribution The Wyckoff Phases B, C, and D indicate how the market transitions from accumulation to markup: Phase B: In this phase, the market tests both support and resistance levels to absorb supply, causing volatility but forming higher lows. Phase C: Here, the price moves into a spring phase, testing lower levels one last time before the uptrend. This is where the LPS (Last Point of Support) appears as a significant entry point. Phase D: The price begins to markup, breaking resistance levels and confirming the bullish trend. Price Expectations for the Next 2 Weeks The EUR/GBP pair is expected to exhibit the following behavior over the next two weeks: Bullish Impulse in Short Term (Wave B) Resistance Level (0.8504): The price is likely to rally toward the 0.618 Fibonacci retracement level, where the B wave is expected to complete. This movement is part of the corrective pattern after the completion of Wave A. POC (Point of Control): The POC at 0.85716 acts as a strong resistance zone where price consolidation or reversals may occur, further enhancing the likelihood of price stalling at these levels. Wave C Development After hitting the resistance at 0.8504, Wave C will likely initiate a downward movement back toward the LPS area, potentially testing key support levels around 0.8320 or lower. Invalidation Level The invalid level marked at 0.82824 suggests that if prices fall below this point, the current wave count would be voided, signaling further downside potential. This level is critical for traders setting their stop-loss points. Long-Term Accumulation Support The SC accumulation lines (4H and 1D time frames) around 0.8320 to 0.8280 represent strong support areas. As per the Wyckoff accumulation pattern, these zones should prevent further downside and initiate upward momentum in later phases. Conclusion The EUR/GBP currency pair on the 4-hour time frame is currently in an accumulation phase, with a likely upward correction toward the 0.618 Fibonacci retracement level (0.8504) in the next two weeks. Following this correction, the price may experience some consolidation or retracement near the mitigated order flow zone, forming Wave C. The point of control (POC) around 0.85716 acts as a key resistance, while support levels near 0.8320 should provide strong support in the case of any further downside. In summary, the next two weeks suggest short-term bullish momentum towards 0.8504, followed by potential resistance and consolidation around key Fibonacci and Wyckoff levels.
Long
by spaceangel
4
EUR/GBP Technical Analysis – Monthly, Daily, and 4-Hour Monthly Time Frame: On the monthly chart, the price has reached a key demand zone that has historically shown strong buyer interest. This is a crucial area where we are now witnessing a significant reaction, indicating that buyers are stepping in. The bullish pressure from this zone suggests the potential for upward momentum in the coming weeks or months. Daily Time Frame: On the daily chart, we see strong buying pressure that has led to an overextension in the current price action. This overextension is a signal that the market may soon undergo a correction. However, before assuming a reversal, it is important to focus on confirming signals that will validate a potential correction. These signals could include bearish candlestick formations or a breakdown in key support levels. 4-Hour Time Frame: In the 4-hour chart, a clear trend reversal pattern has emerged, indicating a shift in market sentiment. We can observe lower lows being formed, with the most recent low liquidating the previous one, followed by a strong bullish movement. This sweep of liquidity followed by a rally signals that the market has completed its bearish phase and is ready to push higher. Take Profit and Stop Loss Ideas: Take Profit: A reasonable take profit level can be placed just below the next significant resistance area on the 4-hour chart or around key highs visible on the daily chart. Stop Loss: Conservative Stop Loss: Below the key demand zone on the 4-hour chart, allowing room for price fluctuations while still protecting the position. Aggressive Stop Loss: Tighter, just below the most recent low, providing a higher risk-reward ratio but with less room for market noise.
Long
by Wiiso
2
EURGBP:More Selling Is Indicated Next-week. Long positions soon. An easy trend following Short of EURGBP, forget the complexities of for-example trading Gold, this one was 'in the bag' as a Short all week. Just pull up a 4 hour chart and it looks so easy! Further Short-selling I think next week of EURGBP but if you take a look at the monthly-chart below you will see where the 200EMA-Monthly has supported price previously and lots of historical buying from Order-blocks from 0.8250 to 0.8316. So a Short from current price 0.8377 should work well but I think buying accumulation from 0.8316 - 0.8250 and I think before long EURGBP which is severely oversold even on a weekly & monthly-timeframe, will get a bounce in price - but for how long? Sellers could move back-in very quickly if the EUR does not bounce back with strength - Sellers would next time Short the EUR through and south of the monthly 200EMA.
Long
by Easy_Explosive_Trading
The move I'm looking for on EURGBP pt2A trade I took on EURGBP risking just a small percentage of my account. Price is at a good point to enter to take it for a sell if my previous analysis was completely accurate. As you can see price went to 0.83700 for the retracement to the Fib level, came back down into that zone and looks like now we are starting to see some resistance. Even though it's a weak formation and I was looking for a more aggressive bearish candle I'm taking my chances.
Short
by themarketmafia
1
EURGBP Quick SwingEURGBP has been in a prolonged downtrend but recently saw an upward move after reaching a significant support level around 83.300. While it's uncertain if this signals a full trend reversal, I anticipate continued buying pressure from this point and aim to do a quick 25pips trade on it. Prices may retrace to a lower key Fibonacci level, but given my bullish bias on EURGBP and the presence of buying pressure, I expect the price to rise further, especially following its retracement to the 0.382 support level. Let's see how this pans out.
Long
by shidiq
2
EURGBP to find bears at market price?EURGBP - 24h expiry We are trading at oversold extremes. We look for a temporary move higher. Preferred trade is to sell into rallies. The primary trend remains bearish. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Our profit targets will be 0.8320 and 0.8305 Intraday - We look to Sell at 0.8370 (stop at 0.8390) Resistance: 0.8352 / 0.8375 / 0.8390 Support: 0.8340 / 0.8330 / 0.8317 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA