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EURGBP trade ideas

EURGBP: Your Trading Plan Explained 🇪🇺🇬🇧 EURGBP is currently stuck on a key daily horizontal support. The price is consolidating within a horizontal range on a 4H time frame. With a release of US PMI, we see a positive bullish reaction and a test of the resistance of the range. Its bullish breakout and a 4H candle close above will provide a strong bullish signal. A confirmed violation will open a potential for a further bullish continuation. Next goal will be - 0.845 Alternatively, a bearish breakout of the support of the range may trigger a bearish movement lower. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
EURGBP Will the Support hold?Great signal out of the EURGBP pair last time we analyzed it (June 25, see chart below), as the price hit and even surpassed our 0.8550 Target: Following that High, the pair collapsed and is about to test Support 1, which technically is Lower Lows region for the long-term Channel Down. As long as the 1D RSI Higher Lows trend-line holds, we will look for a buy on Support 1 and target the 0.618 Fibonacci extension at 0.8530. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EUR/GBP attempts recovery but faces strong resistance Bias in EUR/GBP has started to skew higher after bouncing off the 0.84 mark, but resistance remains firm at 0.8433. The momentum for the past few sessions has been bullish but the gains have been limited, with pullbacks from the intraday highs, forming a series of inverted hammer candlesticks, potentially signalling a reversal at the end of a downtrend. The RSI is skimming just above the oversold territory, but the flattening scope indicates a lack of momentum, which could see EUR/GBP trending sideways over the coming sessions. The start of the European session on Tuesday indicates just that, with the gains earlier in the day having been pared back. Overall, the long-term bias remains to the downside as the path of least resistance stays put. Sellers will need to test the current support at 0.84 before breaking down lower towards 0.8380 but it may take a few sessions as the current attempt at a bullish reversal may play out a little longer.
by Capitalcom
Maximizing EURGBP Returns: 64.83% Probability of TP SuccessThe EURGBP pair is showing promising signs for potential long positions. Recent economic developments are aligning with a bullish outlook for this currency pair. Key Fundamentals Supporting Bullish Bias Eurozone Resilience: The European economy has been displaying unexpected resilience, with improving manufacturing data and consumer confidence. This strength could support the euro against the pound. UK Economic Challenges: The UK faces ongoing economic headwinds, including persistent inflation concerns and slower growth projections. These factors may put pressure on the pound, potentially benefiting the EURGBP pair. Diverging Monetary Policies: The European Central Bank (ECB) has signaled a more hawkish stance compared to the Bank of England (BoE), which could lead to interest rate differentials favoring the euro. I plan to utilize probability-based analysis to identify optimal entry points for long positions. 1M: 2W: Hourly Timeframe:
Long
by Jasminex1x2
1
EURGBP | Hidden Bearish DivergenceCurrently, EURGBP is in an uptrend, making new higher highs and higher lows as the price moves upward. However, a double top has formed, and the price has broken the recent low, indicating that the structure is beginning to shift into a downtrend. This suggests the market may soon start printing new lower highs (LH) and lower lows (LL). Additionally, on the 4-hour time frame, there is a hidden bearish divergence, further indicating a potential trend reversal into a downtrend. The combination of the double top formation and the hidden bearish divergence strengthens the likelihood that the trend will change, leading to the formation of new lower highs and lower lows. In summary: 1: Current Uptrend: EURGBP has been making higher highs and higher lows. 2: Double Top Formation: Suggests a potential reversal at a key resistance level. 3: Break of Recent Low: Indicates a shift towards a downtrend. 4: Hidden Bearish Divergence: On the 4-hour time frame, confirming the likelihood of a trend change. 5: Expectation: The trend may soon shift to a downtrend, with new lower highs and lower lows likely to form. These confirmations suggest that while the EURGBP has been in an uptrend, But rejected from its daily supply zone the recent developments point to a possible reversal into a downtrend. It is important to monitor these indicators closely and consider them in your analysis before making trading decisions.
Short
by awaisulabdeen
10
Buy OpportinityTrade Idea: Buy EUR/GBP Entry: 0.84070 1st take Profit: 0.84610 2nd Take Profit: 0.84985 Rationale: Technical Analysis: EUR/GBP has shown strong Support near the 0.84300 level, with recent price action indicating potential for an upword move. Resistance Break: A breakout above recent Support suggests Bearish momentum could carry the pair towards the 0.83500 level. Risk Management: Place a stop-loss according to your risk tolerance and trading strategy, ensuring potential losses are controlled. Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The analysis provided is for informational purposes only and should not be considered as investment advice.
Long
by GODOCM