EUR/GBP at Critical Resistance – Major Move Incoming?What’s great everyone!? Mr. Blue Ocean FX here, breaking down EUR/GBP with an in-depth analysis you don’t want to miss.
Starting from the higher timeframes, we’ve identified a major trendline resistance dating back to January 2023, which has been tested multiple times and is now being challenged again. After a massive impulse move from the 0.8275 area in late December, price has surged to the current levels around 0.8472, but signs of weakness are starting to emerge.
Looking closer at the daily timeframe, we’ve seen a clear rejection off the trendline with significant bearish volume stepping in yesterday—indicating strong selling pressure after a liquidity grab above 0.8444. With a confirmed daily close below 0.8434, we’re now eyeing potential downside targets.
Dropping down to the H1 timeframe, we’re observing a lower high formation, which could signal a continuation lower. I’ve already entered this trade with a high-risk, high-reward approach, placing stops above the recent high and targeting multiple liquidity areas below.
Key levels to watch:
• First target: 0.8433, sweeping liquidity.
• Next: 0.8413 (double bottom) and ultimately 0.8335 if momentum continues.
If we break below key support at 0.8410, this could trigger a much larger drop into untested levels from past price action, potentially targeting the 0.8146 area.
The next few candles will be crucial—will EUR/GBP hold this level or melt down further? Stay tuned and let’s see how it plays out!
If you’re finding value in these breakdowns, make sure to boost, share, and comment with your thoughts. Let’s make some moves!
EURGBP trade ideas
EURGBP Will Go Lower From Resistance! Short!
Here is our detailed technical review for EURGBP.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.845.
Considering the today's price action, probabilities will be high to see a movement to 0.835.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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EUR/GBP BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
We are now examining the EUR/GBP pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 0.831 level.
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EUR/GBP Long-Term Outlook. SWING BUYEUR/GBP has been trading within a long-term range since 2016, and it’s currently sitting on a strong support level. Historically, this zone has acted as a launching point for price to move back toward the upper range.
I believe the pair is entering a new cycle and will likely resume its move to the upside. The current support suggests renewed buying pressure, and with no significant bearish catalysts in sight, we could see a return to the higher resistance levels in the long run.
Let’s see how this plays out—open to your thoughts!
EUR/GBP Sell Trade – Targeting 0.84469Pair: EUR/GBP 🇪🇺💷
Direction: Short 🔽
Target: 0.84469 🎯
Time Horizon: By Tuesday, Jan 21, 02:00 UTC ⏳
EUR/GBP has recently experienced a sharp upward movement, reaching an area where a potential pullback could develop. Observing current market behavior, a retracement toward the 0.84469 level is anticipated based on price action dynamics.
This trade is expected to reach its target by Tuesday at 02:00 UTC. Broader market conditions, including euro sentiment and GBP market developments, may influence the pair's movement. Traders should monitor the price action closely for potential confirmations. 🔍
EURGBP SHORTAs price continues to follow the bearish channel, currently testing at multiple levels of resistance, followed by an increased HP this trade setup has the potential to overwhelm the bullish correction.
After advanced technical analysis has been completed, the price looks to be aiming for the previous lows for potential breakdowns or complete with the initial setup for a long position.
This market looks to be entering a volatile state and we can expect "major movements" giving the opportunity to benefit greatly overall.
With proper risk management, this trade setup has the potential to be observed and experienced as an investment.
This is not a signal and is not recommended to Leverage or Enter this Trade.
EURGBP to continue in the bullish channel?EURGBP - 24h expiry
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
20 4hour EMA is at 0.8429.
We look to buy dips.
Dip buying offers good risk/reward.
A break of the recent high at 0.8463 should result in a further move higher.
We look to Buy at 0.8431 (stop at 0.8409)
Our profit targets will be 0.8489 and 0.8499
Resistance: 0.8454 / 0.8464 / 0.8485
Support: 0.8436 / 0.8420 / 0.8404
Risk Disclaimer
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EUR-GBP Possible ShortEUR-GBP Possible Short
We can observe that the price has confirmed a potential double top and is ready to test the support around 0.84207. The first signal is that the MACD and RSI have shown overbought levels near 0.84480. This level has been confirmed again as resistance, causing the price to reject and move lower.
Considering this resistance level and the alerts from the MACD and RSI indicators, along with price action, we can deduce that a retest of the 0.84207 support level is likely.
Important: Before testing this support, we need to break the upward trendline!
Possible Short Setup If the price re-enters resistance levels, we could consider taking a short position. Remember, the stop loss should be placed above the 0.84584 level.
I don’t recommend entering right now. It’s better to wait for a pullback to improve the risk-reward ratio.
Let me know what do you think in the comment section!!!!
EURGBP Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring EURGBP for a buying opportunity around 0.84200 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.84200 support and resistance area.
Trade safe, Joe.